On Line Pre-Qualification

For informational purposes only.

This is a 30 year fixed rate loan which requires no down payment. Maximum allowed down payment is 1.8%, but none is required.

Closing costs can come from a gift, grant, installment loan, or the seller (maximum 3% seller contribution).

Borrowers with an excellent credit history can by a home with no money out of pocket.

Owner occupied 1 unit SFR, condo, or PUD.

Borrower does not have to be a first time buyer, but cannot own any other property at time of closing.

Homebuyer education is not required.

Reserves of 2 months PITI of borrowers own funds required.

Debt ratios 38/41 with 680+ score, 45/45 with 720+ score.

Maximum loan amount $240,000; be careful, income limits may hinder qualifying for upper price ranges unless property is in Low Income Census Tract...

Monthly Mortgage Insurance required.

No major credit derogs (bankruptcy, repossession foreclosure, charge off, major tax liens, major collections/ judgments) allowed.

Non-traditional credit histories allowed (electric, phone, cable, etc.). Must have 3 account minimum, each with 0 X 30  12 month history.  One account must be rent or mortgage.

Please call us prior to entering into any contracts...

We also offer a 3% down with 1% from borrower with minor slow credit and no minimum credit score.  Call the office... or Click Here for the page.

Rates and guidelines subject to change without notice.  There is no guarantee that all loans meeting the above criteria will be approved.