Frequently Asked Questions
How Does It Work?
Step 1
The first step is to speak with one of our dedicated agents. During this initial conversation, we’ll walk you through the details of our program and take the time to understand your needs and wants for your future home. Our goal is to ensure that we’re on the same page and ready to help you find the perfect fit.
If you’d like to expedite the process, you can complete our Prequalification Form before speaking with an agent in minutes!
**We won’t request payment or conduct a full credit check until you choose to move forward in the program.
Step 2
After speaking with an agent and completing our Prequalification Form and you can begin viewing properties! If you haven’t decided which ones you’d like to see, feel free to search through our inventory of homes and choose the one(s) that best fits your needs.
Step 3
After touring a property you love, the next step is to fill out the application provided by your dedicated agent. The application process typically takes less than 30 minutes, and to make it as smooth as possible, we recommend gathering all supporting documents beforehand.
If you have any questions or need assistance during the process, your agent will be there to guide you every step of the way!
Step 4
You’ve picked out your new home, and now it’s time to gather your down payment funds. All of our properties require a minimum of 5% of the purchase price as the down payment. If you’re not quite ready or need a little more time, no worries—we’ll stay in contact with you and support you as you prepare for homeownership.
Step 5
Frequently Asked Questions
To qualify, we require a credit score above 500, no evictions in the past three years, no bankruptcy in the last 12 months and that you’re current on your bills for the last three months. Additionally, your income should be at least 3.5 times the monthly payment. We’re here to assist you in understanding these requirements and guiding you through the process!
You can schedule a property tour as soon as you submit complete our Prequalification Form. Depending on the availability of our agents, you could even be viewing your property the same day!
We’re continuously adding properties to our inventory each week! If you don’t find something you love, let your Relationship Manager know what you’re looking for, and we’ll make sure to notify you as soon as a property that fits your needs becomes available.
We work on your timeline, and in some cases, you could be settling into your new home in as little as two weeks.
100% of your down payment is credited towards the purchase price of the home.
We’re here to support you along the way. We’ll keep in touch while you work towards your savings goal, and when the time is right, we’ll be ready to help you start the process of becoming a homeowner.
At this time, we do not accept Section 8 vouchers.
The enrollment program fee covers your entry into our homeownership program. This includes the processing of your application, verifying your documents, and setting you up with a Relationship Manager who will guide you every step of the way.
Think of it as the first step towards making your journey with HomeWays as smooth and stress-free as possible!