Home Buyers Guide -v.3

GET qualified

CREDIT SCORE 620 620 580+ .

TYPE OF LOAN VA LOAN USDA LOAN

DOWN PAYMENT NO DOWN PAYMENT NO DOWN PAYMENT 3.5% . 3.5% 3% 6.5%

FHA LOAN

203K LOAN CONVENTIONAL 97 CONVENTIONAL LOAN

640 620 640

QUALIFICATIONS Income QUALIFYING INCOME

W-2 Income/Salary Income from part-time jobs Income from a second Job Overtime & Bonuses Seasonal jobs Self-employed Income Alimony & child support (Documentation required)

NON-QUALIFYING INCOME

Income from the lottery Gambling Unemployment pay Single bonuses Non-occupying co-signer income Unverifiable income Income from rental properties

NEEDED DOCUMENTS

BANK STATEMENTS (PAST 3 MONTHS)

DIVORCE DECREE

PREVIOUS 2 YEARS OF TAX RETURNS LIST OF YOUR DEBTS & ASSETS

W2’S FROM THE PAST 2 YEARS 3 MONTHS WORTH OF PAY-STUBS

ADDITIONAL INCOME DOCUMENTS