Comment submitted by Kevin M. Savage, Director, Nevada Home Program

Change [Page 53482] paragraph 11 Financing purchase of the home as follows:"...However, a participant using an FHA-insured mortgage to finance the purchase of the home may finance reasonable and customary closing costs and pre-paid items with the FHA-insured mortgage. Where an FHA-insured 203b type mortgage is used to purchase the home the amount of the FHA-insured may not exceed the discounted sales price of the home plus the closing costs and pre-paid items. Where an FHA-insured 203k type mortgage is used to purchase the home the amount of the FHA-insured may not exceed the discounted sales price of the home plus rehabilitation and/or improvement costs as determined eligible under the 203k program plus the closing costs and pre-paid items. Nevada Home Program