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9/20/2006
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According to the U.S. Department of Housing and Urban Development release announcement H 2006-12. beginning October 12, 2006 HVH will only execute contracts that reflect a 3% Sales Assistance. Within the 3% allowance, HUD will pay loan origination fees up to 1% of the mortgage. However, on a FHA 203K rehabilitation mortgage loan, HUD will pay 1.5% of the mortgage NOTE:Bidding feature on the website will only accept a maximum of up to 3% beginning October 10, 2006
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