PEG FAQs for Lenders

Public Employee Homeownership Grant (PEG) Program: FAQs for Lenders

  1. Who is qualified to apply for the program?
  2. What are the terms of the loan?
  3. Is this actually a grant or a loan?
  1. My client has submitted a complete application and all supporting documents. How long will it be before they are notified of the approval / denial?
  2. What do you need from me to keep the application process moving as quickly as possible?
  1. How soon can we go to settlement after approval?
  2. My client would like to get their earnest money deposit back at closing. Is this allowed?
  3. My client is purchasing a condo with mandatory country club membership and fees. Can they use PEG funds to finance these expenses?