§ 120.393. Are there special application requirements?
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/us/cfr/t13/s§ 120.393·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)An applicant must submit documentation from:
(1)A mortgage lender indicating that permanent mortgage money is available to qualified purchasers to buy such properties;
(2)A real estate broker indicating that a market exists for the proposed building and that it will be compatible with its neighborhood; and
(3)An architect, appraiser or engineer agreeing to make inspections and certifications to support interim disbursements.
(b)The Borrower may substitute a letter from a qualified Lender for one or more of the letters.