After a recent review, we are updating the logic for question “18. First Time Homebuyer?” of the HUD-92900-A “HUD/VA Addendum to Uniform Residential Loan Application” (our Cx20336). Currently the “a. Yes” checkbox will be checked on the form if either of the borrowers on the copy have their corresponding field “First Time Home Buyer Status” set to “Yes,” and “b. No” otherwise. Since most first-time homebuyer programs require both borrowers to be considered first time homeowners, the “a. Yes” checkbox is being changed to only check if both borrowers on the copy have “First Time Home Buyer Status” set to “Yes”.
In addition, the “b. No” checkbox for question 18 is being changed to check if either of the borrowers on the copy do not have their “First Time Home Buyer Status” set to “Yes”. If the form is being populated for only one borrower, the field for that borrower will still be used to determine which response to check:
- Borrower 1 First Time Home Buyer Status (49933)
- Borrower 2 First Time Home Buyer Status (49937)
- Borrower 3 First Time Home Buyer Status (49942)
- Borrower 4 First Time Home Buyer Status (49947)
These changes will be in effect on December 4, 2019. If you have any questions or concerns about these changes, please contact Client Support at 1.800.497.3584.
DR 305064