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Sandra Silva

ALHS, CPRES, RENE
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Walzel Properties - Corporate Office
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Harris County Program

August 20th, 2015


The following are qualification steps toward home ownership in this program.

You must complete an 8 hour HUD approved homebuyer education class. Please see list of homebuyer educators.
You must be pre-qualified for a fixed rate loan by one of the 
H.O.M.E. approved lenders. (You should receive a Pre-qualification Letter.)

The following income documentation should be provided to a H.O.M.E. Approved Lender to forward to Harris County Lending Services:

*Current six (6) months of checking and savings bank statements.
*Current three (3) years of income tax returns (include W-2’s, 1099’s, etc.).
*Current three (3) months of payroll stubs on everyone in the household 18 years old or older.
*Any other supportive income information, such as child support, alimony, social security benefits, retirement accounts (IRA’s, 401K, etc.), disability or worker’s compensation.
*Birth certificates on everyone that will be residing in the home.
*Divorce papers, if applicable.
*Lender needs to provide tri-merged Credit Report on all adult members in the household.
*Homebuyer Debt To Income ratio cannot exceed 30/42.
*Homebuyer must have at least one credit score of 620
You must not have owned another home in the U.S. within the last 3 years (except a mobile home).
*You must be a U.S. Citizen or Permanent Resident Alien 
(documentation required).
*Your lender will need to provide a Verification of Rent
*Homebuyer's liquid assets may not exceed $25,000.
*Seller to contribute up to 6% toward buyer's closing costs
*Your income level must not exceed 120% of the median income. See table below:

Number of Family Max Annual Income

1 $55,600
2 $63,550
3 $71,550
4 $79,450
5 $85,800
6 $92,150
7 $98,500
8 $104,500
For more info contact me  sandruka@att.net


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Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®

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