3.5% Down Payment
1st Month Rent
Inspection Report
Appraisal Report

Purchase Contract must allow 45 days, may be faster as long the borrower provides docs fast.

As any standard purchase transaction, you will received your commission as agreed with the seller party.

Yes, is required to allow the seller to come with a small amount of money at closing.
In many cases we have seen negotiations that even exceed the original asking price, but had included 6% seller concessions.

We work with all major title companies, please, be sure to use one of this list:
Allegiance Title LLC, Alliant National Insurance Company, Alliant National Title Agency, American Home Title & Escrow Company, American Security Title Insurance Company, American Title Company of Houston, ANTIC - Agents National Title Ins. Co, Apirra Abstract & Title, Axxis Title Agency, LTD, Canyon Title, Capital Title, Capital Title of Texas, LLC, CATIC& CATIC TITLE, Central Title & Escrow Inc, Core Title Company, DHI Title Agency *Will not have anything to do w/ signing Closing Agreements, DOMA Title Insurance Company, Equity Title Company, A California Corp, Escrow Results, Inc, Essent Title Insurance, Inc, First American Title Insurance Company, First Integrity Title Company, First National Title Insurance Agency, First National Title Insurance Company, Great American Title Agency, Inc, Hollingshead Title & Escrow, Investors Title Insurance Company, Lake Area Title Services, Inc., Landmark Title Assurance Agency, Lendmark Title Agency, Lonestar Title Company, Maryland First Title, Mason Title & Escrow Company, Maverick Title of Texas, LLC dba Texas Title, Merit Title, LLC, ORNTIC - Old Republic National Title Co, OS National LLC, Panorama Mortgage Group, LLC, Parkway Title LLC, a Georgia Limited Liability Company, Perrie & Associates, LLC, Placer Title, Platinum Title, Priority Settlement Group of Texas, Providence Title Company, Provident Title Company, REALtech Title, LLC, Saturn Title LLC, Secured Title of Texas, Security 1st Title, Superior Title & Escrow, LLC, TEEMA Title & Escrow Agency, Texas National Title (TNT), Title Resource Guaranty Company, Tricor Title, Trinity Title of Texas, LLC, Upward Title & Closing Texas LLC, Velox Title & Escrow, Inc, Westcor Land Title Insurance Co, WFG National Title Insurance Company, Worth National Title Insurance Company, WTJB, PLLC dba Byers and Taylor

This program requires the seller to contribute with 6% as seller concessions to cover closing cost and prepaids. Many real estate agents as part of their negotiation services, they present an offer to include the 6% seller concessions, many times the price maybe higher of the original listing price, as the sellers may be receiving multiple offers.

Yes, we will need the latest 3 months of bank statements, for income calculation.

Yes, be sure your work permit is not expired.

Yes, we will need a copy of the letter with the ITIN from the IRS.

In a case-by-case we accept middle credit score below 580, we will ask for a letter of explanation.

You MUST pull your credit report as we are not allowed to pull your credit, please, keep in mind the credit agency charge a fee for that, and has nothing to do with those fees.
Pull your credit report here:
https://credit.sarmamortgage.com/smartpay/SmartPay.aspx?uid=9db5d8ae-080c-449f-ba12-e1828665a53f#forward

This is a rent-to-own, for as long you want, even for 30 years and will not be need to refinance... then the title will be under your name.
However, you can rent for as long you want, and as soon you want when you qualify for any other mortgage loan, then the title will be under your name.
The nice feature about the rent-to-own is that you own the equity of the property. So, if you decide to purchase the property you have the equity as credit.

Yes! DreamBuilder is a unique Housing Empowerment Program in which a purchase transaction is facilitated by a HUD-approved non-profit government entity that allows prospective Homebuyers to enter a Structured Financing Agreement to ultimately transition to entering homeownership.

Bankruptcy requirements:
- Chapter 7: Eligible if discharged at time of closing
- Chapter 13: Eligible if discharged OR if filed within 12 months of closing and documentation supports 0x30 payments since filing
Note: All bankruptcies must be recorded on the credit report
Foreclosure, Deed-in-Lieu, and Short Sale allowed if discharged or satisfied at least one (1) year prior to closing
Note: All events must be recorded in the credit report

• Single Family (Attached and Detached)
• 2-Unit (Attached and Detached)
• Planned Unit Development
• Condominium (FHA approved only; spot approval ineligible)
• Manufactured Home (Multi-Wide only)
• Modular Home
• Townhome

A Homebuyer with additional real estate owned will be reviewed on a case-by-case basis and allowed by exception only.

Solar panels are acceptable provided the solar panels are included in the price of the home and financed as part of the mortgage. Leased solar panels may be acceptable on a case-by-case basis only.

A Certified Home Warranty must be obtained when a home inspection has been completed. This warranty is required for all properties where full inspections are performed.

Inspections must be performed by a licensed home inspector prior to closing. Inspection requirements include: • All health and safety items must be addressed and/or repaired, as required by the inspection • All major systems must be inspected, including HVAC, plumbing, electrical, appliances, siding, major fixtures, and flooring • Roof inspection (with a useful life expectancy of at least 10 years) • Smoke detectors and carbon monoxide systems must be tested and certified as operable per local building and health/safety codes • Septic systems must have separate septic inspections performed, and they must be pumped and inspected along with the drain field • If electrical tests are not performed, it must be confirmed that power meters are functioning and are not bypassed

Roof inspection (with a useful life expectancy of at least 10 years)

• One (1) tradeline with at least 12 months satisfactory history
• Alternative credit may be acceptable

• FHA Full Documentation (one year) W2 & Tax Returns
• Asset Depletion
• Automated Cashflow Qualification
• 3 months Bank Statement Only Income
• P&L + 3 months Bank Statements
• 1099s + 3 months Bank Statements
• WVOE + 3 months Bank Statements

This varies by county - please check: https://tinyurl.com/mtk6axb2

The credit report must be pull in this link:
https://credit.sarmamortgage.com/smartpay/SmartPay.aspx?uid=9db5d8ae-080c-449f-ba12-e1828665a53f#forward

This is connected to our underwriting system that allows the loan approvals.
We look at:
Credit Score
Late Payments
Minimum Monthly Payments

The minimum monthly payments is your monthly payment like credit cards, car payment, study loans, loans.

We use this total of minimum monthly payments and compare to your income, based on that the system calculates the mortgage loan amount for pre-approval.

https://tinyurl.com/y22s2y98