Mortgage pre-approval is the first step to owning your own home. It’s a serious decision, but it doesn’t have to be difficult. Banks and Mortgage lenders are experienced and can walk you through the process step-by-step.  View our Sample Mortgage Pre-Approval Letter. Feel free to bring this along when you meet with your lender to ensure you meet all the program requirements! Here are some frequently asked questions:

• What amount should I get pre-approved for? Home prices vary by area. Check your area’s page, or reach out to your program coordinator for more information.
• What credit score do I need? Lenders generally look for a FICO credit score of around 620–640. Some lenders, like local credit unions, will make exceptions for low credit scores.
• How long until I can buy? It varies! Many people need a few months before they are prepared to buy. If your income and credit score fit the qualifications, we can begin building your home in under a month.
• Will you tell me which bank to use? No. While we work closely with local banks and are happy to connect you with one who is familiar with the program, you are free to choose your own lender. Feel free to share the program information with them. 
• How does a mortgage payment break down? Your mortgage payments include the mortgage itself, the interest, and often a required PMI (primary mortgage insurance) payment. 

An essential part of the Welcome Home Ohio Program is financial literacy and homeownership training. This training is part of the state requirements, and must be completed to receive grant funding.  We partner with national and local organizations to make financial literacy training accessible. It is different for each area, so check your program’s page to be sure you get the right information. Here are some frequently asked questions:

• How do I get financial literacy training? After you are accepted into the program, we will connect you with a course in your area.
• How long is the class? Courses are flexible. They often consist of one day-long class, followed by monthly check-ins. Other courses are all-online 
• I’ve already done financial literacy training. Do I have to do it again? We want to make sure your training course meets both our and the State of Ohio’s requirements, which might mean repeating a course. Reach out to us to go over your specific case. 

The “Home at last” feeling is one of the most rewarding parts of this program. There are several things you should do as soon as you close your loan and get your keys. Our Closing and Maintenance Checklist prepares you to make your home your best investment yet.

The State of Ohio sets the income limits for each program based on the County’s Area Median Income, adjusted for household size.

To determine if you qualify, first determine your annual household income. This is the combined earnings of everyone over the age of 18 in your home. If your annual income varies, use the average of your income from the last 2 months.

Then, determine your household size. This is the total number of people who will be living in your home, including children.

Visit your area’s page to view the specific income limits.

We use Unibilt modules to deliver highly efficient, sustainably-built homes in a fraction of the time of traditional stick-built construction. Watch our Unibilt Factory Tour to learn more about Unibilt!

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