Mortgage Criteria

Each family that applies for a mortgage with TCHFH Lending, Inc. must meet application and underwriting requirements for approval. If you don't meet these requirements today, that's okay! Twin Cities Habitat's financial coaches can help you get there.

Learn About Homeownership

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

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)

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)

Mortgage Process

mortgage process infographic cropped

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)
Mortgage Process
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