What are the terms of the HAP loan?

The HAP loan is a no interest loan, with no monthly payments. After 15 years, if the borrower is in compliance, the loan is forgiven. View the Neighborhood Stabilization Program webpage for more information.

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1. How do I apply to purchase a HAP qualified home?
2. Is credit history important to get approved for a house?
3. What types of properties are eligible?
4. How much down payment does the applicant need to qualify for the program?
5. What are the terms of the HAP loan?
6. Do I only have to pay back the HAP Promissory Note amount?