The actual amount payable may be decreased by
loans or increased by additional benefits payable
under specified conditions or stated in a add on benefit.
Under the HUD exemption, lenders need not provide the RESPA GFE and RESPA settlement statement when six prerequisites are satisfied: (1) The
loan is secured by a subordinate lien; (2) the
loan's purpose is to finance downpayment, closing costs, or similar homebuyer assistance, such as principal or interest subsidies, property rehabilitation assistance, energy efficiency assistance, or foreclosure avoidance or prevention; (3) interest is not charged on the
loan; (4) repayment of the
loan is forgiven or deferred subject to
specified conditions; (5) total settlement costs do not exceed one percent of the
loan amount and are limited to fees for recordation, application, and housing counseling; and (6) the
loan recipient is provided at or before settlement with a written disclosure of the
loan terms, repayment
conditions, and costs of the
loan.