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c. Required Investment (09/14/2015)
i. Total Required Investment
Total Required Investment refers to the amount the Borrower must contribute to the transaction including the Borrower’s downpayment and the Borrower-paid transaction costs. The Total Required Investment includes the Minimum Required Investment (MRI).
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II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT A. Title II Insured Housing Programs Forward Mortgages
2. Allowable Mortgage Parameters
ii. Minimum Required Investment
Minimum Required Investment (MRI) refers to the Borrower’s contribution in cash or its equivalent required by Section 203(b)(9) of the National Housing Act, which represents at least 3.5 percent of the Adjusted Value of the Property.