Here are the requirements to be eligible for CEP:
● Property type is 1-4 unit, Condominium, PUD
● Purchase, Rate & Term Refinance, Cash Out Refinance
● All Conventional and Government loan programs qualify except Jumbo and High Balance
So, what exactly is the benefit offered by the CEP?
We have identified a number of census tracts that will receive an attractive pricing incentive. Pricing incentive refers to the price for the interest rate attached to the loan. Borrowers who purchase or refinance a home located in a designated underserved community will receive a pricing incentive of:
.75% on Government loan programs
.50% on Conventional loan programs
To find out if your home qualifies click my name below.
Price Incentive Expert