program requirements

Equity:

• Your current property must have at least 30% or more in Equity

Credit Score:

• Your FICO credit score(s) must be at least 620

Loan Type:

• You must qualify for a conventional loan (FHA/VA won't work right now)

• Conforming loans only (no jumbo)

Current Property Condition:

• Your house is well maintained - no major work needed

• The house may need up to $25,000 in cosmetic work (i.e. paint, carpet) before listing

• If work needed is over $25,000, the overage is paid directly by the customer

• Your house doesn’t have any major visual detractors nearby (i.e. busy roads/highways, large power lines, cemeteries, commercial properties, unusable yard, etc)

Listing Value:

• The house value is at or below the maximum list price of $850,000

• There are similar comparable MLS sales (at least 2-3) that clearly prove this value

New Home Criteria:

• You must be purchasing a residential property for your primary residence (no second homes or investment properties)

• This includes houses, townhouses, and condos

• Duplexes/Triplexes will be accepted if one unit will be your primary residence

• No vacant land, mobile homes, modular homes, etc.