How To Qualify
1. Take the Homebuyer Rediness Quiz for your results. Click Here to take the Quiz.
2. Complete the Household Budget so that Maven Mortgage can determine an affordable mortgage payment for you. Click Here to complete the monthly Household Budget.
3. Apply using the soft pull credit application. This will not affect your credit. Click Here to apply.
You plan to live in the home as your primary residence. You will give true and honest information on your application.
You must have ontime payments for the last 12 months or a good explanation for late payments that were out of your control. You will pay very close attention to your rent payments. If you do not pay rent, you will need to show a savings pattern. Bankruptcies must be 2 years discharged. Foreclosures must be at least 2 years old. Any collections with a balance less than 2 years old will have to be satisfied.
You will need proof of stable income. We will determine your ability to pay your mortgage. We will consider all of the following as income; W2 wage earner, Self-Employed, SSI, Pension, Alimony, etc. You will need to have a 2 year work history.
Funds to Close:
Although Maven Mortgage does not require a down payment, you will need to have a minimum amount of funds to start your escrow account (taxes+insurance+HOA), have your earnest money deposit when you put an offer on a home, and pay for your home inspection. These funds can come from your own savings or a gift.