Home Ownership

[h2o]

Is home ownership a requirement to qualify for an ARC bond?

[Bond Magician]

Originally Posted by h2o

Is home ownership a requirement to qualify for an ARC bond?

Home ownership is not a requirement, but an applicant who does own a home definitely will help qualify him/her for a better rate.

[h2o]

Originally Posted by Bond Magician

Home ownership is not a requirement, but an applicant who does own a home definitely will help qualify him/her for a better rate.

I also own some properties that I rent out, should I list those on the personal financial statement, too?

[Bond Magician]

Originally Posted by h2o

I also own some properties that I rent out, should I list those on the personal financial statement, too?

Yes - even if you own properties that you rent out, you can still list those on the personal financial statement. Any property that you personally own may help you get a better rate, so please list everything that applies to you.

[h2o]

On the financial statement, where it asks for the mortgage amount, do I put the monthly payment or total balance?

[Surety Queen]

Originally Posted by h2o

On the financial statement, where it asks for the mortgage amount, do I put the monthly payment or total balance?

Surety wants to know the balance of your mortgage - not the monthly payments.