MS Homeline Grant

This entry is specific to the Gulfport Mississippi Community along with Realtors and Builders that service that area; however, I believe it is necessary to point out some facts. MOST IMPORTANTLY, THIS PROGRAM WHICH GRANTS $50,000 TO QUALIFIED APPLICANTS HAS BEEN A FABULOUS OPPORTUNITY TO ACCELERATE THE SALE OF HOMES. Thank you to the Mississippi Development Authority and the Homeline personnel for their participation in giving people a ONCE in a lifetime opportunity to own a home.

That said, it is important that all parties to these transactions understand the layers and layers of documentation and guidelines that everyone must adhere to. Homeline must implement the program within its parameters in order to continue. Unfortunately, loans are like a finger print, none are exactly the same, every scenario is different. The lenders must first adhere to the lending guidelines, receive a fully approved loan. Now the loan must be submitted to Homeline with exact figures for income, calculations of taxes, insurance and monthly principle and interest figures. Income documentation is recalculated as well as debt ratios. The slightest adjustment can take a fully approved loan to one that does not meet the program guidelines. Additional time and effort on the part of everyone involved in the program is necessary; due to the logistics of funding there are specific deadlines, often the grant will not make the desired deadline.

It is imperative that our realtor partners, builders and sellers understand the extensive parameters that must be met to provide this incredible opportunity to our community. Sunny Mortgage is convinced this opportunity is worth the additional time and effort it takes or we would have chosen not to participate.

I am requesting on behalf of everyone participating in this program that all realtors, builders and sellers to join us in educating your clients regarding the additional time that may be necessary to expedite these sales. WE UNDERSTAND THE DIFFICULTY IN DELAYING A CLOSING AND LIKE EVERYONE CERTAINLY WANT TO EXPEDITE THE CLOSING AS QUICKLY AS POSSIBLE. HOWEVER, I FEEL THIS PROGRAM IS FAR TOO IMPORTANT TO OUR LOCAL ECONOMY AND REALIZE HOMELINE CAN NOT BE RUSHED OR THEY WILL POTENTIALLY LOSE THEIR OPPORTUNITY TO SERVE OUR COMMUNITY.

We at Sunny Mortgage Group are willing to extend an invitation to participate in a training seminar that would explain the entire process to assure full understanding of the time line involved. Call our office and ask for either April or Valerie 228-385-0551. Based on the number of applicants we may provide a monthly seminar.

Thank you , KS