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May our institution create a loan product of our own that incorporates the 10 percent guarantee offered through the Finally Home program?

April 26, 2017create guarantee incorporates institution loan offered Product

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May our institution create a loan product of our own that incorporates the 10 percent guarantee offered through the Finally Home program?

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Yes. Numerous lenders have already done so. You may create a specific loan product provided that it offers a benefit to Illinois consumers that, but for the 10 percent guarantee, would otherwise not be available through your institution.