CREDIT INFORMATION

There are many types of loans available today, including Home Only, Land Home, Low Income Home Loans, FHA, Down Payment Assistance and VA.

    a. Home Only - means one can finance the home with a down payment of 5% or more. Results depend on amount down, credit score and debt ratio.
    b. Land Home - means Edgewood can finance the home of your dreams on the property of your dreams with possible no money or little money down. This option has one monthly payment and a lower interest rate. It also offers options such as septic, electric, water, driveways and decks.
    c. Low Income Home Loans - this type of loan is for applicants with a low or very low income. One must be a resident of the county in which he/she wants to the buy the home. Contact Edgewood Homes for more information.
    d. FHA
    e. Down Payment Assistance - The federal government will allow up to $5,000 towards the down payment of your new home. Contact Edgewood Homes for details on this fantastic, new plan.
    f. V.A. (Veterans Administration)

You will need to organize your documents. If you are buying a new home, we will need the following:

    1. If you are salaried provide two years of W-2’s and one month of pay stubs or if you are self-employed provide two years of tax returns and a year-to-date (YTD) profit and loss statement.
    2. If you own rental property, please provide rental agreements and two years of tax returns.
    3. If you wish to speed up the approval process, please also provide three months of bank statements for each bank, stock and mutual fund account.
    4. Provide recent copies of any stock brokerage or IRA/401K accounts.
    5. Provide a copy of divorce decree (if applicable).
    6. If you are NOT a U.S. citizens, provide us with a copy of your green card (front & back) or if you are NOT a permanent resident provide us with your H-1 or L-1 visa.
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