Frequently Asked Questions

You’ll need:

• A credit score of 580 or higher < (580 will require credit repair which is available)

• Proof of income to show you can repay the mortgage

• A DTI (debt-to-income ratio) under 43–50% depending on lender

• Completion of a $248 certified homebuyer education course

• A primary residence purchase through an approved lender

No income limits. No first-time buyer requirement.

You’ll need to go through one of our approved lenders to access SCHA funds. We’ll make sure the funds are compliant in your loan structure.

No. There is no repayment, no second lien, and no restriction on how long you must live in the home.

Yes. Many buyers want to protect their savings, lower their monthly mortgage, or build emergency reserves after they move in.

Most borrowers qualify for:

• 3.5% of the purchase price (up to $12,000)

• Additional funds earned after you move into the home you keep as savings ($13,000 - $17,000)

You may receive $,000 - $23,000 depending on your lender’s structure and the purchase price of your home.

• Primary residences only

• Must fall within local purchase price limits

• Eligible for FHA

• New construction and resale homes both qualify