*Credit score 620 mininum / 650 minimum with low/no down payment

*2 year history of employment or school attendance (unless using no income disclosure program)

*1-6 months house payments (reserves) in savings or retirement accounts (better credit requires fewer months reserves)

*No foreclosure in the last 4 years

*4 years since Chapter 7 bankruptcy discharge

*2 years since Chapter 13 bankruptcy completion

*No unpaid judgements

*No unpaid collection accounts or proof that you have payment arrangements

*Credit score 600 minimum

*2 year history of employment or school attendance

*Reserves required in savings or retirement accounts depend on credit score.  Typically only 1-2 months are needed if credit score is low.

*3 years since CAIVRS (FHA loss tracking system) claim or foreclosure

*2 years since Chapter 7 bankruptcy discharge

*12 months of good payment history on current Chapter 13 bankruptcy

*No unpaid judgements

*No large unpaid collection accounts or proof that you have payment arrangements

*Must be a First Time Homebuyer (cannot have owned a primary residence in the last 3 years.) This requirement is dropped if borrower is a single parent, Veteran or home is located in a Targeted area.  (Note:  all of Utah County is a targeted area.

*Credit score 660 minimum

*2 year history of employment or school attendance

*Reserves required in savings or retirement accounts depend on credit score.  Typically only 1-2 months are needed if credit score is low.

*3 years since CAIVRS (FHA loss tracking system) claim or foreclosure

*2 years since Chapter 7 bankruptcy discharge

*12 months of good payment history on current Chapter 13 bankruptcy

*No unpaid judgements

*No large unpaid collection accounts or proof that you have payment arrangements

*Must be VA eligible

*Credit score 600 minimum

*2 year history of employment or school attendance

*Reserves required in savings or retirement accounts depend on credit score.  Typically only 1-2 months are needed if credit score is low.

*3 years since CAIVRS (VA loss tracking system) claim or foreclosure

*2 years since Chapter 7 bankruptcy discharge

*12 months of good payment history on current Chapter 13 bankruptcy

*No unpaid judgements

*No large unpaid collection accounts or proof that you have payment arrangements

*Can utilize the lower rate Utah Housing loan program even if you are not a First Time Buyer

The following link will take you to worksheets that will help you calculate how much house payment you might qualify for and lets you apply your personal budget information to decide how much house payment you can really afford.  (Be sure to hit the back button after you print out the worksheets to come back to this page.) 

http://www.traceyrumsey.com/nss-folder/paymentworksheet/QualifyingWorksheet.pdf