Frequently Asked Questions (FAQ's)

Are co-signers allowed?

Yes, as long as co-signer does not occupy the property.

What are the down payment requirements?

Standard underlying investor requirements (VA, FHA, FNMA, and RHS).

Can Payment$aver or HELP be utilized with Mortgage$aver Plus?

No. Mortgage$aver Plus is used for down payment assistance.

What is the turnaround time?

Compliance: 

1st - 20th: Maximum of 3 days
21st - End of Month: Maximum of 5 days

Purchase:

12 business days.

Are mobile homes O.K.?

Yes, as long as they are permanently attached to the foundation.

Does my client have to purchase in a certain area?

As long as the home is in the state, there are no restrictions on the area where you purchase (rural or not).

What kind of property do I qualify for?

We do not finance duplex, triplex, etc. but condos are O.K. Also, the property can not have more than one kitchen.

What is a first time home buyer?

A first time home buyer is someone who has not owned and occupied as their primary residence within the last three years. The location of the home does not matter.