Whitestone has a relationship with several banks you could choose from, please fill this credit app.
Will I need a cosigner?
It depends on your income and debt ratio. The lender will be able to determine that.
Does new construction qualify as section 8 program?
Unfortunately Whitestne does not work with Section 8.
What government approved assistance programs available to me?
The only government incentive is the down payment assistance program and that is only available for existing homes and the borrower will need to qualify.
I don’t have a social security number but I am a taxpayer in the U.S. and have ITIN. How can I qualify for a mortgage?
We have special lenders that can work with you, but expect to have a minimum 15% to 20% down payment with proof of income and provide 2 years of U.S. employment history.
How much cash do I need to have available to put down?
At a minimum 3.5% in the bank plus 3 or 4 percent for the closing costs. plus 3 months payment reserve in the bank. White Stone Developments can help with the closing costs up to 100%.
What credit score do I need to have?
What credit score do I need to have? 640 for FHA Loan, Conventional Loan requires a higher score.
How much house can I afford
Minimum monthly income requirement should be no less than $2,300. Based on your monthly income of $2,300 your total debt payment cannot exceed 40% or $920 per month. You would qualify for up to $130,000 loan.