How SRFSI Helps You Become a Homeowner
How much income do I need to have to qualify for a SRFSI home
There is no minimum income requirement. But, you must prove
steady income for at least three years, and demonstrate that you've
consistently paid your bills on time. Your loan amount will be
based on what your income capacity allows you to afford.
What qualifies as an income source for an SRFSI home loan?
Per Capita, child support, retirement pension payment,
unemployment compensation, VA benefits, military pay, Social
Security income and alimony all qualify as income sources.
Part-time pay, overtime, and bonus pay also count as long as they
How does my credit history impact my ability to qualify?
SRFSI is generally more flexible than conventional lenders in
its qualifying guidelines. In fact, SRFSI allows you to
re-establish credit if:
- Two years have passed since a bankruptcy has been
- All judgements have been paid
- Any outstanding tax liens have been satisfied or appropriate
arrangements have been made to establish a repayment plan with the
IRS or State Department of Revenue
- Three years have passed since a foreclosure has been
Can I qualify for a SRFSI loan without credit history?
Yes. If you prefer to pay debts in cash or are too young to have
established credit, there are other ways to prove your