Borrowers must meet the following general criteria to qualify for 100% financing through The Downpayment Company:
- Employment: Two years on the same job or in a related industry
is required.
- Income: Income must be verifiable; minimum annual income requirements
vary depending upon desired price range.
- Credit: Clean credit is mandatory. Bankruptcies dismissed less
than two years ago, foreclosures or excessive late payments are not
permitted.
- Credit Scoring: Credit scoring is used to determine eligibility,
corresponding interest rates and maximum loan amounts.
- Closing Costs: Borrowers must have adequate capital to pay
the closing costs. Gift letters, seller concessions, or unsecured borrowings
for all or a portion of the closing costs may be permitted.
- Reserves: Two month payment reserves may or may not be required depending upon a variety of qualification factors.
The Downpayment
Dilemma | How The Program Works
Qualification Requirements | Property Guidelines | Tax Benefits
Cost Of Waiting | Rent To Ownership Comparison
Prequalification Form | Required Disclosues
Realtor Referral Program | Mortgage Broker Area | Company Profile
Contact Us | Realtor Area | Return Home
Designed, hosted and maintained for The Downpayment Company by
...when it's time to establish an Internet presence.
Qualification Requirements | Property Guidelines | Tax Benefits
Cost Of Waiting | Rent To Ownership Comparison
Prequalification Form | Required Disclosues
Realtor Referral Program | Mortgage Broker Area | Company Profile
Contact Us | Realtor Area | Return Home
Copyright 1996-2005 The Downpayment Company. All Rights Reserved.
The mortgage financing described herein is available
for properties located in California only.
Designed, hosted and maintained for The Downpayment Company by
...when it's time to establish an Internet presence.