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  • Hero Deed Restriction Disclosure - 001-1110hero - Chfa - Chfa

Get Hero Deed Restriction Disclosure - 001-1110hero - Chfa - Chfa

The undersigned borrower(s) understands and acknowledges that they are applying for mortgage loan financing from the Connecticut Housing Finance Authority (CHFA) through the HERO program. The mortgage loan, if approved, will include a deed restriction which will prohibit the borrower(s) from selling/transferring their ownership interest in the subject property indicated above for a period of 5 years from purchase/.

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How to fill out the HERO Deed Restriction Disclosure - 001-1110HERO - CHFA - Chfa online

This guide provides step-by-step instructions for filling out the HERO Deed Restriction Disclosure form online. The process ensures that you understand the deed restriction associated with your mortgage loan application through the Connecticut Housing Finance Authority.

Follow the steps to complete your HERO Deed Restriction Disclosure form accurately.

  1. Click the ‘Get Form’ button to access the HERO Deed Restriction Disclosure form. This will allow you to open the document in the online editor of your choice.
  2. Begin by entering the names of the borrower(s) in the designated field provided at the top of the form. Make sure to include all individuals involved in the mortgage loan application.
  3. Next, fill in the property address section with the exact location of the property being financed. Accuracy is important to ensure proper identification.
  4. Read the acknowledgment statement carefully. This section outlines the understanding that by applying for the mortgage loan through the HERO program, a deed restriction will apply, prohibiting the transfer of ownership interest for five years without prior consent from CHFA.
  5. After reviewing the acknowledgment, the borrower should sign and date the form in the space provided. If applicable, the co-borrower must also sign and date in their designated area.
  6. Once all fields are completed and verified for accuracy, you can save your changes. Options may include downloading a copy of the form, printing it for your records, or sharing it with relevant parties.

Complete your HERO Deed Restriction Disclosure form online today to ensure your mortgage loan application is processed smoothly.

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Deed restrictions are clauses on your home's deed that limit how you can use your property. A deed restriction might say you can't build a shed in your yard or own a certain breed of dog. Deed restrictions can come from an HOA, the builder of the home or a local governing body.

Borrower Requirements Occupy the property as a primary residence; non-occupant co-borrowers are not allowed. CalHFA borrowers must complete homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.

The purchase contract that Fannie Mae requires buyers to use when purchasing their properties contains a clause in which the buyer agrees to receive a deed containing deed restrictions. The deed restrictions can effectively prevent how the real estate investor is able to finance his or her rehabs .

Allowable Resale Restrictions employment-related requirements, occupancy requirements, first-time homebuyer requirements, and. restrictions on group homes or homes that are principally used to serve residents with disabilities.

Deed restrictions (which also could be called restrictive covenants) are specific rules and regulations regarding the use of the property or land, usually imposed and supervised by a homeowners association (HOA).

The Fannie Mae deed restriction also says that you can't “encumber” the purchased property for more than 20% above the purchase price for 90 days either. In other words, if you purchase the property for $50,000, you would not be allowed to get a loan against the property for more than $60,000 for at least 90 days.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232