Can we use secondary financing from a source not affiliated with the Mortgage Revenue Bond Program?
Yes, as long as the HFA approves the use of additional financing. Secondary financing used with FHA loans must meet the FHA requirements (refer to HUD 4155.1 rev 5, second 5, subsection 1-13). Fannie Mae loans must have a second mortgage that complies with the Fannie Mae Community Seconds guidelines (refer Fannie Mae Selling Guide, Section 8 Community Lending, Chapter 2).
