Qualifying
Almost any U.S. citizen (or permanent resident alien) 18 years or older who meets certain credit and income criteria may qualify for our Home-N-5 Program. If you have no credit, are uncertain about your credit score, or need credit assistance, we can definitely help.
Here are the basic qualifying components that are taken into consideration when applying for our Home-N-5 program:
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Stable employment over the past two years
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Adequate income to meet all monthly obligations including other fixed debts
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Other outstanding debts that you may have such as credit cards, auto or personal loans
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Meet minimum program credit and score requirements
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Have available cash reserves (savings) equal to 2 months mortgage payments
Remember, qualifying is tailored to suit each borrower's unique situation
Credit Requirements
As a general rule, we look for a credit score of 620 or better. There are
certain exceptions as each borrower may have compensating factors that may
positively offset a lower credit score rating, which are reviewed on a case-by-case
basis. If you have no credit or past credit problems but otherwise meet program
requirements, alternative credit and credit report repair is available
through reputable companies or through non-profit organizations in your community.
Our goal is to make certain that you are properly qualified, including acceptable
credit and manageable monthly debt payments.
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