Step 4 – Apply (Deed-Restricted Properties Only)
If you’re purchasing a deed-restricted property, you will need to qualify through the SCHA.
One of the most common questions we’re asked is what the work and/or income limits of deed-restricted properties are. Unfortunately, there is not an easy answer to this because each property has its own restrictive covenant and terms. The best way we can serve you is for you to submit an application so we can review your individual situation once we have all of your information.
We have included our general applications below, you will need to have a property identified before applying. SCHA does not do any blanket applications.
You may also want to have the following documentation handy before beginning your application:
- Two most recent paystubs
- Prior year W-2 (income verification only)
- Prior year federal tax returns (income verification only)
- First-time homebuyer class certificate (first-time homebuyers only)
- Lender prequalification or preapproval letter obtained within the last 30 days of submitting application – due to fluctuating interest rates
The application will walk you through any other documentation you may need.
In order for us to best serve you, please submit the entirety of your supporting documents at one time. Missing documents will make your application incomplete and we cannot guarantee review of missing items before deadlines. Please review the instructions on the top of the application for the list of required documents.