Mortgage Program
The Home Approval Online guaranteed mortgage program has very different approval criteria than a traditional lender. It is sometimes difficult to adjust to the idea that an applicant will be approved regardless of credit, income or job status. This, however, is definitely the case. Home Approval Online does not evaluate the applicant beyond personal references. Instead, the property and appraised value are of leading importance. It is correct to assume that we inherit significantly greater exposure due to these loose guidelines. As long as the minimum requirements are met, the application will be approved:
Requirements for Residential Acquisition:
- Minimum 10% consideration (down payment).
- Normal property structure on a foundation or with basement.
- 3 character references.
- Stated income indicates applicant can afford monthly payments.
- Analysis fee submitted with application.
For each application submitted to Home Approval Online, the applicant must submit the analysis fee.
This fee is exclusively refundable in the event that Home Approval Online does not approve the transaction. For each application that Home Approval Online approves, an approval certificate is provided. Home Approval Online approvals expire one (1) year from the date of issue. So, even if you have not found your next home, we will issue a certificate of approval that will be honored on any home you select, within your budget.