Personal Goal/Interest:
- Do you have the Intent/Want, to Purchase a Home?
Timeline to Move:
- Do you have at least 3-4 weeks BEFORE your required to move?
- Is your Timeline somewhat flexible?
- Do you have temporary House options if a few days to a couple more weeks are needed?
Budget & Income Requirements:
- Can you afford a monthly House Payment of at least $1375/mo?
- ..OR.. Are you planning on having a Down Payment of roughly 3.5%?
- Do you have an overall solid, 36-month work history with a reliable source of taxable income that can be validated with Pay Stubs?
- ...OR.. If you are currently Self-Employed; Does your “Adjusted Gross Income” for the last 2 years, justify your ability?
- ...OR.. If your source of Income is 'Non-Taxable; Is it guaranteed for at least the next 3yrs, if not longer?
- Do you have the ability to cover your own closing costs, prior to move-in (typically ranges between $3,000-$7,000)?
Debts Reporting to Credit:
- Have all your monthly payment obligations been paid on-time for the least the last 6 months (meaning no late payments of 30 days or more)?
Bankruptcy Filing(s):
- Chapter 7; has it been at least 18 months since it was either Discharged or else Dismissed?
- Chapter 13; have you made at least 12 Months of On-Time Payments or else has it at least been 12 months since having it Dismissed or Discharged?
Foreclosure, Short Sale, or Deed-in-Lieu of Foreclosure(s):
- Has it been at least 34 Months, since such has been reported against your Credit?
IRS Related Requirements:
- Have you filed your Federal & State Tax Returns, for the last 2 years? (Unless your income is & has been “Non-Taxable”.)
- Do you owe anything in "Back Taxes" to either Federal or State? If so, have you set up a payment plan that you are complying with?
- Do you have a Valid “Social Security Number” OR even a Valid “Work Visa & ITIN#”?