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ADDI
Home
Frequently Asked Questions
Eligibility
Requirements
Property Eligibility
Homebuyer Eligibility
Assistance Available
Required Downpayment
Combined Qualifying Ratio
Loan-To-Value
Home Inspection
Lead-Based Paint
Taxes and Insurance
Stacking of Funds
Eligible Closing Costs
Repayment
Subordination
Non-Discrimination
Privacy
Appeals
Loan
Processing
Application Package
Processing
Closing
Loan Cancellation
Lender
Resources
Lender FAQ
Underwriting Guidelines
Lender Checklist
ADDI vs HOME-BUY
Downloadable Forms
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Cancellation
of a Madison American Dream Downpayment Loan
The Community Development office will discontinue work on an application for the following reasons:
- The homebuyer is not eligible for a Madison American Dream loan.
- The property for which the loan is sought is not eligible for financing under the Madison American Dream Downpayment Initiative.
- The homebuyer refuses or is unable to supply all financial data and other relevant information required to determine loan eligibility.
- If the homebuyer has adequate funds for the down payment and closing costs, Madison American Dream Downpayment assistance will not be available.
- The homebuyer withdraws their loan request.
Cancellation and termination of a loan request or loan will cause the Community Development Office to issue a written notice of cancellation to the lender and to the homebuyer at his or her mailing address as set forth in the application. |
