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The mortgage that you are applying for will be marked as HPML if your APR is above a certain percentage higher than APOR based on the type of mortgage you are applying for.<\/b><\/p>
First Loan Mortgage<\/u>: The first mortgage hold the primary position in the lien stack in the property.\u00a0<\/b><\/p>
If you are applying for a first mortgage that has a loan amount below the conforming limit, and the APR of the mortgage is higher than 1.5% than the APOR for the first mortgages, your mortgage will be considered as an HPML.\u00a0<\/b><\/p>
The lender who holds the primary lien position gets paid first if the property is foreclosed.<\/b><\/p>
Second mortgage<\/u>: Second mortgage holds a secondary position in the lien stack in the property.\u00a0<\/b><\/p>
If you are taking a second mortgage, home equity loan, or a HELOC that has an APR of 3.5% higher than the APOR for second mortgages, your second mortgage will be considered an HPML. \u00a0<\/b><\/p>
The lender who holds a second mortgage gets paid after the lender that holds the primary lien in case of a foreclosure.<\/b><\/p>
Jumbo loan<\/u>: A jumbo loan is a loan where the loan amount is higher than the conforming limit that is set in your area.\u00a0<\/b><\/p>
If your taking a jumbo loan that has an APR of 2.5% or higher than the APOR set for jumbo loans, your loan would be considered an HPML.<\/b><\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t