Borrower Eligibility

First-Time Home Buyer

Your customer cannot have had an ownership interest in a principal residence for three years. The only three exceptions are:

The property is located in a target area

The property will be the subject of a qualified major rehabilitation

You are a veteran and can provide a D.D. 214 with a "Member 4" status in the lower right corner

Copies of your customer's tax returns for the last three years are required to determine eligibility.

Income Limits and Purchase Price Limits

The combined income of all adults who will occupy the property and, the purchase price cannot exceed the limits for the county in which the property is located.

Principal Residence

The borrower must occupy the property within 60 days of loan closing. The property must be owner occupied for the life of the loan.