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For further suggestions, please contact your campus mortgage coordinator

For further suggestions, please contact your campus mortgage coordinator

Frequently asked questions on the brand new UC home loans

The latest line of documentation necessary for this new remark, recognition and you may capital from an alternative UC financial software program is often referred to as the borrowed funds origination processes.

For the past 3 decades regarding originating MOP funds at OLP, the audience is expected of many questions about the borrowed funds processes by the borrowers like oneself. For your convenience, you will find accumulated a summary of our oftentimes expected issues and responses and you will split them for the four categories because the given below.

System qualification

  1. I’m a beneficial UC worker and you can would like an excellent MOP financing. Are I qualified?

Qualified professionals from MOP try members of brand new Educational Senate (or those who keep an identical term) and you can members of the newest Senior Administration Group.

Once you’ve already been selected to sign up MOP, the next step is to try to speak to your campus home loan planner to examine the program advice and you may certification criteria. Qualifications to participate doesn’t create loan recognition; try to over a simple mortgage loan application very your Workplace out-of Mortgage Apps normally techniques the loan. Your residence mortgage planner gives OLP along with your affirmed qualification and also the OLP will be sending you a contact receive to begin with the web based application procedure. Select Report about the mortgage processes for more information.

Before you apply

  1. I have not even removed a beneficial MOP mortgage. Who do I contact to own standard advice and questions about your own attributes?

No, MOP lets as much as 90% resource based on the decreased of the cost otherwise appraised worth to own mortgage numbers as much as the newest maximum detailed tolerance ($dos,370,000* by ).

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