FAQ

Take the Validation Letter to ay lender licensed to originate loans in Utah. After Pre-approval (not Pre-qualification) for a home loan, the lender will submit the required documents to AFHBAP to obtain a Reservation Agreement to fund the $2500.00 at least 3 days befor sending the closing disclosure to the client.

No You can use a lender that is licensed to originate a mortgage in Utah. You may choose any conforming loan programs, such as VA, FHA, Fannie Mae or Freddie Mac. Your lender will qualify you for the program that is best for you. Youmay qualify thru our dual licensed agents to streamline the process and begin to look for homes that meet your qualifications.

Funds will be reliesed to the Title company for credit towards your closing costs or down payment at closing. Funds will be wired directly to the Title company escrow account and credited at closing.

Should the transaction not close for any reason, which would be very unusual; all gift funds must be returned to AFHBAP for use by other military home buyers.

In most cases, but not all, your out of pocket costs are usually limited to the earnest money that you pay when you submit your offer to purchase real estate and your inspection fees for that property. Our plan is to keep your out of pocket expenses to a minimum. Our agent will negotiate concessions from the seller to help pay a portion of your closing costs and the grant from MHAF will help take care of the rest. Our gift program helps you with all of the other closing costs associated with purchasing your dream home, and ours is a true gift that never needs to be repaid.

You do not have to repay it back. It is a gift. consult with your tax accountant to determin tax or credits at the end of the years income taxes to file.

All Utah Military Active and Reserve service members with at least 90 days Active Duty Service. Note: the service requirements doe not include Annual Training (AT) or Active Duty for Training (ADT). All medically discharged veterans and retired Veterans may apply with no Separation or First time home buying restrictions. Surviving spouses of Honerable veterans.

The Home must be purchased in Utah. you mut occupy the home you must must have optained a Validation Letter from the AFHBAP. Your lender must have received the reservation agreement form the AFHBAP.