Household Size
Household size is the total number of individuals who will be living in the unit (including children). Children must reside in the household at least 50% of the time to be considered part of the household.

Available Cash for Down Payment, Closing Costs to Purchase
Households are required to have readily available assets of a minimum of 3% of the purchase price to cover down payment and closing costs to purchase. Pricing will vary based on income limits and bedroom counts.

Owning Property
All applicants who will be on property title must be first-time homebuyers. Applicant(s) shall be considered a first-time homebuyer if they have not owned any residential real estate for at least three years. This definition applies to property owned in foreign countries as well as in the United States. An exception will be made for people who were homeowners prior to a divorce or legal separation.

Loan Qualification
Households must be able to qualify for a 30-year, fixed-rate mortgage.