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3103 N. Main Street | Jacksonville, FL 32206
Monday - Friday 9:00am-5:00pm
904.358.1224

Home Buyers Process

WHERE DO I BEGIN?

  1. APPLY – Turn in a completed APPLICATION.
  2. CREDIT ASSESSMENT – Personally conducted by one of Metro North’s Certified Housing Counselors.
  3. TYPICAL MORTGAGE PREQUALIFICATIONS
    ‣ Minimum 1 year consecutive employment
    ‣ Minimum credit score of 620
    ‣ Debt to income ratio of 45% or lower
    ‣ Within area median income of the corresponding county

  4. LENDER – qualified applicants are paired with a city-approved lender; unqualified applicants are enrolled in Metro North’s credit repair program.
  5. PRE APPROVAL – A letter is issued by the city-approved lender indicating the qualified mortgage amount for the applicant.
  6. SELECT A HOME – Set up an appointment to view any available properties or new construction lots.
  7. CONTRACT – A $500.00 deposit is required to secure a 60 day contract for a home. During this time, a home inspection and walk through will take place.  Also, a quote for homeowner’s insurance will be requested.
  8. HOME BUYER COURSE – Enroll and complete an 8-hour home buyer course  through one of the designated providers.
  9. CLOSE – Congratulations
    *Process will vary for those working directly with a realtor or lender.