For Lenders    |    Special Programs for HOC Residents    |   HOC Existing Loan Customers


  • All adult occupants of the property must be a first time home owner. First time homeowner means not having an ownership interest in a primary residence anywhere during the last 3 years.
  • No more than 15% of the property can be used in a trade or a business.
  • Borrowers must be qualified on their own for the mortgage.
  • HOC does not allow non-occupant cosigners on the mortgage.
  • If the home is sold within 9 years after purchase, the seller may be required to pay a Recapture Tax to the federal government.
  • FHA loans may be assumable by another income eligible first time home buyer.
  • If the property is an MPDU, the mortgage terms are separate from the conditions of any MPDU covenant.
  • You can pay off the first mortgage at any time without a penalty.
  • The MPP does not control the sales price for a resale.
  • The MPP does not control when the owner can sell.
  • The MPP does not share in appreciation of a sale.