What are your qualifications?
Your qualification is widely based on 2 main factors. First is your ability make the monthly payment based on your current income. The second is meeting the down-payment deposit requirement. In addition.
- Monthly gross income should be at least 3 x's the rent
- Verifiable landlord references and tenant history
- No evictions in the last 4 years
- Verifiable employment history and income
- Pass criminal background check, (misdemeanors and minor infractions OK)
- Do you really want to own the home instead of being a career renter
- A minimum credit score of between 540-550 is needed. Current FHA standards require a 580 credit score. We work closely with our Local Mortgage Lenders and MyCreditGuy to get you mortgage ready.
- If your credit score is lower thatn 580 we require you to enroll in credit repair. MyCreditGuy can typically raise your credit score be 15-20 points a month.