First Step Homes Financing
Your First Step to a First Step Home
At First Step Homes, we’re committed to making your loan process simple and easy to understand. That’s why we offer in-house financing options for your convenience and peace of mind.
What you need to Buy a Home
Minimum qualifying standards to apply
- Valid photo ID (Passport, State Issued ID, DL, Matricular Card, etc)
- SSN or ITIN
- Verifiable Income
- Desire to gain equity through home ownership
Financing Options
- Zippy
- Tammac
- In-House Financing
In-House Financing Features
- Fixed Rate
- No prepayment penalty
- No minimum Credit Score
- No hidden fees
In-House Financing Closing Process
- Salesperson shows the home to the buyer(s)
- Community application is submitted with supporting documentation
- Prospect is approved by the community level and undergoes underwriting for ability to repay
- Application is submitted to The Mortgage House, NMLS Registered Mortgage Broker
- The mortgage broker communicates with buyer(s) via email and provides ALL required federal disclosures within time parameters.
- We provide a lender credit to cover the applicant’s cost in full at closing. Buyer(s) are only responsible for the Down Payment, Credit Report Fees, and TDHCA title processing.
- TMH Closing documents are combined with the TDHCA Compliance Checklist and disclosures and delivered to the Salesperson
- Salesperson completes the closing and a final walk through. The park manager helps execute the community lease agreement and welcomes residents into their home.
- 3 business days later (includes Saturdays and excludes Sundays and Federal Holidays) park manager provides the buyer(s) with their keys.