Helpful Buyers Information

    • Do you have a reliable, continuing source of income to make monthly payments?
    • Income can come from primary, second, and part-time jobs, as well as overtime, bonuses and commissions. ***To use part-time, overtime, bonuses and commissions income, you must have been receiving that for at least the previous 2 years***
    • You may use other sources of income if you want them considered for payment – including retirement or veteran's benefits, disability payments, alimony, child support, and rental or investment income – provided they can be verified as stable, reliable, and likely to continue for at least three years.
    • Do you pay your bills, loans, credit cards and other debts on time?
    • We examine your payment habits before deciding to loan you money.
    • Your credit history and credit score are also examined prior to deciding to loan you money.
    • It's a good idea to check your credit history and correct any problems before applying if possible.
    • Do you have enough funds for a down payment and closing costs?
    • You may use funds from a savings account, certificate of deposit (CD), investments, or retirement fund.
    • In some cases, you may be able to use a gift from a relative, friend, employer, or not-for-profit organization.
    • In many cases you will also have to demonstrate that you have additional funds in your accounts to cover several months of mortgage, tax, and insurance payments.
    • What is the market value of the property you want to purchase?
    • We will order a property appraisal to make sure your property's value meets our underwriting requirements.