Please forward all items listed below and forward Checklist
to your Lender and Realtor
File Checklist
Items Required for Down Payment and Closing Cost Assistance
*These items are needed immediately and prior to Beyond Housingqualifying client and issuing approval letter for down payment and
closing cost assistance funds.
q *Available funds in the Jurisdiction you are purchasing
q *Budget worksheet
q *Intake form
q *8 hours of education and one-on-one counseling with an approval from your assigned counselor indicating that you are ready for homeownership. Please note your counselor cannot approve or qualify you for down payment assistance.
q *Good Faith Estimate with subject property listed
q *Last two months bank statements
q *Recent Credit Report
q *Residential Sales Contract with all addendums
q * Most recent consecutive pay stubs showing at least three months worth of income and all other income self employed, social security, disability and etc. for all household members of the age of 18 years old. Dated within 6 weeks of closing. (Married individuals that are legally separated must provide the legal separation agreement if they are not legally separated the spouse’s income and credit will be included in the household and must be provided.)
q *Previous year’s W-2s
q *Last two years tax returns
q *Seller signed URA statement of occupancy
q Loan commitment letter showing final loan amount, rate and term
q 1003 Application from Lender
q Commitment for Title Insurance showing applicable jurisdiction as a lien holder, name and number of closing agent from Title company- This must be an approved title agent with Beyond Housing. All title agent approved with Beyond Housing have approval certificates.
q Residential Appraisal Report – Full URAR with the value no less than the contract sales price
q Survey at closing
q Flood Certification from Lender
q Homeowner’s Insurance Certificate showing coverage and contact information for insurance agent.
q Occupancy permit and visual lead from applicable jurisdiction based on their First-time Homebuyer’s Inspection *Please see attached booklet on instructions on how to order this inspection
q Occupancy Permit or a Code Compliance Letter from local municipality, if applicable
q Third-party building inspection performed by NACHI OR ASHI-Certified Building Inspector
q Inspection notice signed by seller and buyer
q Termite Inspection with any infestations treated
ADDITIONAL ITEMS NEEDED FOR THE CITY OF ST LOUIS:
q Passed Laclede gas inspection
q St Louis City Occupancy permit – St Louis City Building Div. 314-622-3318
q Visual lead letter from third party building inspector
q 12 month warranty on home
q Standard FHA roof inspection performed by a licensed roofer
Please note the client is not approved until a loan approval has been issued. If they must have the assistance to close I would suggest NOT ordering inspections until you have received an approval letter.
All items should be faxed to (314) 533-0476 Attn: Stacey Preston or emailed to or hand delivered as soon as possible.
Beyond Housing must be clear to close 5 days prior to closing. Please keep this in mind when scheduling the closing.
The guidelines for AS IS Property:
Some “as is” homes can not obtain occupancy permits prior to closing. Occupancy permits for the jurisdictions and the municipality are required for the program prior to closing. If the home you are buying cannot obtain the occupancy permits, the home would not be eligible for the program.
If your client is willing to repair the home PRIOR to closing, Beyond Housing will need the documentation below to approve the property prior to the repairs being done.
1. Failed inspections
2. Contractor Bids on all items on the inspections
3. Appraisal
4. Bank statements of the client
The repairs plus the sales price cannot exceed the appraised value. The property condition must be approved by Beyond Housing prior to making any repairs.
Beyond Housing’s Lending Department staff issues a commitment letter for down payment and closing cost funds after verifying required documents. If the information changes or expires a new approval letter will need to be issued.
The exact amount of funds received is reflected on the HUD 1. Recording fees and title service fees will be deducted from the total amount received.
Please provide all Paid Outside of closing receipts to the title company agent.