Minimum Credit Score is 680

The middle of the three scores will be used to determine your credit score for qualification. Our affiliate lender will check all three credit bureaus:

• Experian
• Transunion
• Equifax

38% is the maximum Debt-to-Income ratio for New Construction

THIS IS HOW IT WORKS: Let’s us a $400,000 home to show the numbers:

• Annual Property Taxes of $8,000
• Annual Property Insurance of $1,200
• Buyer Debt of $2,000 (Revolving credit, auto loan, etc.)
• Total Annual Debt of $11,200, or $933 per month
• Mortgage on $400,000 equals $1551 per month
• Total monthly payment of $2,484

NOTE: The Monroe County limit for federally funded loans (such as FHA, USDA, and VA loans), the total purchase price must not exceed $343,000.

Overall Financial Requirements: Based on the DTI example on the right.

ACCEPTABLE INCOME

Under this scenario, the minimum income requirement would be $78,442 or more

REQUIRED CREDIT

680 or higher

MINIUMUM DOWNPAYMENT

5%

(Contact us,  if you’d like to talk to our preferred lender for a quote.)

It’s our job to make the process as smooth as possible for you!

DESIGN & CONSTRUCTION DOCUMENTS (CD)

Once all documentation is completed: All site plans, architectural plans, and project management will be handled for you.

TIMELINE

From 6 to 9 months once we break ground