Our College Grad mortgage loan program is designed to help recent college graduates achieve homeownership after graduating. With a minimum FICO score of 580 and a down payment of only 3.5%, qualifying for a home loan has never been more accessible for recent grads. In addition to other standard requirements, applicants must provide a copy of their college diploma and transcript to demonstrate their recent graduation. Once graduated, as long as you have been employed for at least 30 days, you can qualify for this loan program.
Our program offers fixed interest rates to fit your financial needs. Borrowers can qualify for up to a 96.5% loan-to-value (LTV) ratio, which means a downpayment of 3.5%, making the requirements for purchasing a home more affordable.
At LISA HOME MORTGAGE™, we understand the challenges of transitioning from college life to homeownership. That’s why we designed this program to give recent graduates a head start on building equity and investing in their futures. With our College Grad mortgage option, achieving homeownership is within reach.
Our program allows recent graduates to use their recent 2-4 years of full-time student history as their employment history, making it easier to meet the employment history requirement for a mortgage. Eligibility requirements for this program include being a graduate of a degreed program or trade school, and providing an employment offer letter (if starting work within approximately 30 days) or 30 days of paystubs. Also required is submitting a copy of your diploma and transcript, in addition to other required documentation.
Clients are allowed to receive a seller credit of up to 6% of the purchase price and can receive an eligible gift from family.
At LISA HOME MORTGAGE™, we are committed to helping recent college graduates achieve their dream of homeownership. Contact us today to learn more about our College Grad Loans program and how we can help you get started on your journey to homeownership.