Many criteria are used to determine the suitability of a borrower. AHWA gets to know its customers during the sales process and has information that is not available to an average lender and does not show up in a FICO score. Some of the areas evaluated are:
- Verifying that the customer can make a downpayment equal to or greater than 30% (20% prior to January 1, 2018) of the home purchase price.
- Review of current wage statement and employment
- Tax returns review
- Face-to-face or telephone interviews
- Credit score (when available)