Mortgage Financing - Some requirements about your mortgage.

To receive the grant funds, the homebuyer must qualify for a mortgage loan through HSBC. The mortgage cannot be obtained from a different finance or mortgage company.
It is critical that homebuyers be pre-qualified for a mortgage loan at time of enrollment into the First Home Club.
A credit report must be ordered to determine whether there are any significant credit problems which will prevent approval of a mortgage loan. If the credit problems can be rectified, the homebuyer will be referred to an appropriate Community Based Organization, such as Consumer Credit Counseling Service of Central New York, located at 215 Washington Street, Watertown, NY for credit repair assistance and counseling.