AHP Subsidy Assumption
Members must notify the Bank in the event that the AHP-assisted homebuyer refinances and subordinates the AHP to a new first mortgage note.
The subsidy assumption must be based on the Bank's methodology using the following workbook:
A printed copy of the applicable worksheet must be provided at the time of notification to the Bank of subsidy assumption. Members must provide the Bank with an executed assumption or subordination agreements securing the unused portion of the AHP subsidy for the unit.
© 2000-2008 Federal Home Loan Bank of San Francisco
