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Can we combine 08/09 SHIP funds with FHOP to help a homebuyer?

April 26, 2017fhop funds help homebuyer ship

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Can we combine 08/09 SHIP funds with FHOP to help a homebuyer?

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Yes, but consider the logistics: you will have two subordinate mortgages with different terms. You can have one mortgage with different terms for different amounts of money. Example: “$8000 is due when you get your tax credit, and $20,000 is a deferred payment loan.” Get help from your legal counsel. Consider a big concern: combined loan to value.