Ability to pay is determined by information provided and collected during the application process.
The application plus supporting information such as pay stubs, benefit statements, previously filed federal tax returns, credit reports, etc.
APPLICANT FAMILY MUST HAVE:
- A steady, reliable source of income and demonstrate financial responsibility
- The ability to pay a monthly mortgage payment (including taxes and insurance escrow) of approximately 25% or less of gross monthly income
- The ability to pay projected monthly utilities (electric/gas & water/sewer)
- NOT filed for bankruptcy within the past 2 years
- NOT possess outstanding collections, liens or judgments that cannot reasonably satisfied by completion of the home build