After a DALP Lottery
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Lottery winners fill out a full application
If MOHCD selects your application from the lottery, you must send in a DALP Full Application package with all required supporting documents. You will have 5 business days to send in the complete application package after you are being contacted.
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MOHCD reviews applications of the lottery winners
If MOHCD determines you're income-eligible, MOHCD will issue ;a DALP pre-approval and reserve the funds for you. Typically, MOHCD completes the application review within 15 business days upon receipt of a complete application package.
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Buyer goes into Contract to Purchase
- If you get a DALP pre-approval, you have 90 days to enter a sales contract for any property on the open market.
- Once you're in contract, you will work with your mortgage loan officer on loan approval. You will pay a nonrefundable fee to MOHCD to process the paperwork when your lender submits the lender package to MOHCD.
- You must also meet with your housing counselor to get a certification of homebuyer education.
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MOHCD Final Approval
Your mortgage loan officer will send the lender package to MOHCD for final approval. MOHCD will take 15 business days to review, and issue a loan commitment letter if you meet the program requirements. The letter allows 30 days to close the sale.
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Before Final Closing
You'll be able to do one last walkthrough of the property.