Our goal is to put people in the homes that will someday be in a position to buy the home. We believe this results in a better quality of life for the resident and a better business model for us.
We have six primary criteria that we consider when qualifying an application: Criminal Background, Income, References (employer, landlords, personal), Credit, Responsiveness, and Politeness.
Below are criteria that may result in a denied application:
CRIMINAL CRITERIA:
- ANY FELONY RELATING TO OR REGARDING A PERSON, PROPERTY OR DRUG RELATED CRIMINAL ACTIVITY IN THE PAST 7 YEARS FROM THE DATE OF THE INVESTIGATIVE REPORT TO THE DATE OF THE CONVICTION, RELEASE FROM CUSTODY OR PAROLE, WHICHEVER OCCURS LAST; OR IN THE CASE OF ANY FORM OF A DIVERSION PROGRAM, SEVEN YEARS FROM THE DATE OF THE OFFENSE TO THE DATE OF THE INVESTIGATIVE REPORT.
- ANY MISDEMEANOR RELATING TO OR REGARDING A PERSON, PROPERTY OR DRUG RELATED ACTIVITY IN THE LAST 5 YEARS FROM THE DATE OF INVESTIGATIVE REPORT TO THE DATE OF THE CONVICTION; OR IN THE CASE OF ANY FORM OF A DIVERSION PROGRAM, FIVE YEARS FROM THE DATE OF THE OFFENSE TO DATE OF THE INVESTIGATIVE REPORT.
- ANY SEXUAL RELATED CRIMES AND OFFENSES.
- ANY CRIMES AGAINST CHILDREN OR ANIMALS.
- ANY PENDING, OR LOOMING LEGAL ACTION FOUND WHICH MAY RESULT IN A DISQUALIFYING FELONY OR MISDEMEANOR CONVICTION AS SET FORTH ABOVE.
- ANY ACTIVE WARRANT OR OPEN CRIMINAL CASE.
INCOME CRITERIA:
- DEBT TO INCOME RATIO EXCEEDING 43%
- INCOME USED IS GROSS (PRE TAX)
- DEBT INCLUDES RENT AND ALL DEBT PAYMENTS, CHILD SUPPORT, ALIMONY, COLLECTIONS, JUDGMENTS AND LIENS
- Example:
- $4300 monthly gross income
- $1200 rent + $200 car + $120 credit card = $1520 debt debt payments
- Debt to income ratio is $1520/$4300 = 35.3%, Approved!
CREDIT CRITERIA:
- ANY OPEN EVICTION JUDGMENT IN THE PAST 5 YEARS.
- ANY SATISFIED EVICTION JUDGMENT IN THE PAST 1 YEAR.
- ANY UNPAID RENTAL COLLECTIONS EXCEEDING $5000 IN THE PAST 2 YEARS.
- OPEN BANKRUPTCIES OF ANY CHAPTER WILL BE AUTOMATICALLY DENIED.