How To Package a Buyer File
a buyer file is made up of 3 KEY Parts: Application, Mortgage pre-approval & supporting documentation
Once your MyHouseKeys.com account is setup you will upload your buyer file to your File Cabinet which is accessible from the user menu. View this 2-Page Guide to see an Illustration of the Process.
Note: HouseKeys is providing this standard buyer application packet as a guide. Make sure to check out each program page to see if there are any additional documents that are required for a particular program.
Program application Packet
Part 1: Initial Action Items
Basic Information about HouseKeys, how to apply, and where to send and find info.
Part 2: Household Info
Members, Income Sources, Employment History Assets, Liabilities etc.
part 3: intent to follow the rules (abide)
This is a quick breakdown of the rules involved with an income-restricted home and making sure that you agree to follow the rules. Note: This doesn’t replace your recorded restriction agreement.
mortgage pre-approval
In most cases, you will be required to use an approved, registered lender from pre-approval to close of escrow. A lender packet includes the pre-approval letter for the correct purchase price, a copy of the loan application and lender info, and a transmittal summary with the payment info. You can find samples in the Document Checklist section.
As a courtesy to jurisdictions and applicants, HouseKeys provides an approved lender list to help applicants quickly locate a lender that can lend on deed-restricted properties.
Any lender can join the list. Lenders are added to this approved list once they have successfully attended The Loan Officers' Training Program with HouseKeys staff, and their Lender’s Legal department has reviewed and approved program restrictions.
This ensures lenders are equipped to close loans with specific program deed restrictions successfully.
HouseKeys does not receive kickbacks or endorse any lender or loan officer. Lenders pay an annual registration fee and are evaluated for compliance and customer service.
If you do not use an approved lender, you may not be able to enter drawings for opportunities and you may be required to switch to an approved lender before signing a purchase contract.
You can view and download a list of registered lenders by clicking the button below.
MINIMUM DOCUMENTS REQUIRED TO ENTER A DRAWING AND BE RANKED
A Housekeys Application specific to the project and drawing must be completed and signed.
A current/valid loan Pre-qualification letter is required to enter a drawing.
To participate in the drawing and complete the purchase, choose a loan officer from the approved HouseKeys list of lenders and loan officers. Find the lender list here:
NOTE: Some cities or projects have specific lender lists. Please refer to the opportunity page or the Opportunity Drawing Notice for your drawing if this applies to you.
Exhibit E – Preference Form with supporting documentation. You can access the preference form HERE.
NOTE: Some cities do not have city preferences, so this document will not be required in some cities. Please refer to the opportunity page or the Opportunity Drawing Notice to see if this applies to you for your drawing.
Applicants who enter by the entry deadline without the required documentation WILL NOT be ranked and fall behind ranked applicants based on entry date and time.
FULL Document Checklist
The Home Buyer Checklist breaks down the supporting documentation needed from an applicant to determine their eligibility. This is primarily focused on household members, income, and assets. Documents are also required to verify identity, any major family changes (divorce, death, birth), Gift Funds, Child or Marital Support, Property Ownership, and your Homebuyer Education Certificate from a HUD-approved counseling Agency.
Once notified and given a File Submission Deadline, you must provide all documents in the checklist. Please refer to your drawings ODN for specific information about your drawing.
Mortgage Pre-Approval Document Samples
Form 1003 - Uniform Loan Application (see sample 1003) with Lender Information (see sample lender info)
Form 1008 - Uniform Transmittal Summary (see sample 1008)
