A two-year history of employment in your current position will be verified for full- and part-time employment based on two years' tax returns and W-2s. Recent employment changes must be within the same industry as long as you have a 2-year continuous job history with no gaps in employment. Part-time employment will be considered if it has been ongoing for the previous two years and the employer states it is likely to continue.

• A two-year history of employment will be verified for full- and part-time employment based on two years' tax returns and W-2s
• Part-time employment will be considered if it has been ongoing for the previous two years and the employer states in writing it is likely to continue
• Overtime, bonuses and commission income will be included if it has been consistent for two years and the employer states in writing that it is more than likely to continue
• Self-employed income will be used if the applicant has been self-employed for two years. The usable income for a loan is the bottom line on your federal tax return after all deductions. Depreciation and depletion will be added back to income.
• If self-employed, a current profit-and-loss statement will be required for review

GCHFH will not accept food stamps, W-2 or Section 8/rent assistance vouchers as income. However, you may still be considered for the program if you receive any of these benefits.

GCHFH qualifies applicants for a mortgage. We must verify your income, credit and assets. During the application process, you may be asked several times to provide updated documents in order to ensure that you, the applicant, are not incurring new debt while in the mortgage process.

Yes, however, the applicant(s) must own the land and provide a clear title and plat of the property. In addition, the applicant must provide GCHFH the most recent property tax statement showing the estimated value of the land. The land would be deeded to GCHFH upon completion of the homeowner application. At closing, the property would be conveyed back to the homeowner. Should the owner voluntarily withdraw or be de-selected from the GCHFH Homeownership Program, the property will be forfeited to GCHFH.

If an individual is married and seeking to apply for the GCHFH homeownership program, both married persons must apply together and meet the qualifications for the program. If an individual is separated from their spouse but not legally divorced, they must wait until they are legally divorced to apply for the homeownership program.

Annually you may request a free copy of your credit report from AnnualCreditReport.com or you can mail a letter requesting a copy of your credit report to: Annual Credit Report Request Service, PO Box 105283, Atlanta, GA 30348-5283. GCHFH will obtain your credit report during the mortgage process and will request your signature(s) allowing us to do so. You will pay for all credit reports at closing. If you have more than $500 in debt on your credit report, a plan for how you intend to pay off your debt should be emailed to the office.

Any applicant that has filed any form of bankruptcy must wait two years after the discharge/dismissed date to apply for the GCHFH Homeownership Program. Please verify the date listed on your bankruptcy discharge letter.

Debt-to-income ratio is a way to compare how much money you earn each month to how much you already have committed to monthly bills and payments, like student loans, car payments, or credit cards. It helps show whether taking on something new—like a mortgage—will be affordable without stretching your budget too thin. GCHFH uses debt-to-income ratios to calculate whether the applicant is in a financial position that would allow them to afford a mortgage payment. Our policies require that applicants qualify according to set ratios. We require that an applicant's debt-to-income ratios fall between 35% and 45% of their gross monthly income (all income before taxes).

New homeowners have the ability to choose exterior doors, trim and siding colors. In addition, they choose cabinet and countertop colors, flooring color, and all homes come with Energy Star microwave, range and refrigerator.