Mortgage Criteria

Application Requirements

• Complete Twin Cities Habitat for Humanity’s Homeownership Program
• Meet our Income Eligibility Guidelines
• Be a first-time Homebuyer (haven’t owned a home in the past three years; owners of manufactured homes are eligible)
• Currently live in the 7-county metro area
• Purchase a primary residence

Underwriting Requirements for Approval

• Preferred credit score of 620 – Credit scores between 580-620 or invisible/no credit acceptable with alternative credit documentation
• $6,300 in savings
• Total monthly debt payments no more than 13% of gross monthly income
• No outstanding liens or judgments
• Minimum of one year at current job, two years if self-employed
• Minimum of two years since bankruptcy, with 24 months of re-established credit
• Minimum of three years since foreclosure or short sale
• Maximum of $1,000 in outstanding collections ($3,000 maximum if medical collections)