Q. Do I have To Qualify For The Loan?

A.

• Yes. While the guidelines in some cases are somewhat more flexible, you still have to meet the criteria for income-to-debt levels, have good credit for the past 2 years, and have job stability.
  
  
• Before making an offer to purchase, we must run a credit report ($20-$65 depending on the financing). This is paid up front, is non refundable, and good for 90 days.
  
  
• You must submit a recent pay stub, W-2s and federal tax returns for the past 2 years,and statements to verify assets as well as your debts. Other documents such as bankruptcy and divorce papers, and letters to explain credit issues may also be required.
  
  
• Keep in mind that interest rates go up and down daily. What you qualify for depends upon current interest rates and your income and debts. Any changes will also change how much home you qualify for.