Residential properties
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What are the requirements to qualify for a home loan?

Income

  • W2, Work History, and Recent Pay Stubs
  • Retirement Awards or 401k Withdrawals
  • Tax Returns for Self Employed

Credit

  • A Credit Score of 600 or Higher
  • Must Have a Credit Score
  • Expired Bankruptcy
  • Must show valid ITIN and/or Social Security Number

Down payment

  • The source of funds must be verified
  • As little as 5% down is required, credit and income-dependent
  • Down payment may be a gift

Factors Impacting Interest Rate

Few factors that impact the interest rate of your home loan:

  • Credit Score: Credit Scores Indicate the Borrower’s Likelihood of Making Timely Payments. The Higher the Score, the Better the Interest Rate. However, We Have Solutions for Scores as Low as 575.
  • Age and Size of the Home.
  • Location of the Home, Whether It Is in a Park or on a Privately Owned Land
  • Loan Size Compared to the Home Value. Typically, an Independent Appraiser Establishes the Home Value.
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