- Now that you have everything you need to qualify:
- 620 FICO score or higher
- Two (2) years W-2s or tax returns
- A monthly income of at least $3000 (May qualify with less this is only our recommendation.)
- A debt-to-income ratio below 50%
- Bank statements of up to 3 months with funds for down payment remaining in savings for at least 2 months.
- Save at least $4,000 to cover the closing costs (Part of the money can be a gift from a family member.)
You are now ready to begin looking for a home! Please, contact a local mortgage broker. He/she will be able to personally look at your account and reports and determine exactly how much you can afford as well as give an expected interest rate. In addition, he/she will get you a verified mortgage preapproval letter.
Afterward, contact us in the chat box when you are finished!