Upper Valley MEND Homeownership Applicant Pool Procedures:

If no homes are available for sale at the time of application, the following procedure will be followed:

  1. The applicant will complete the application and provide proof of pre-qualification for a mortgage to be placed in the applicant pool to purchase a home. Applicants are put in the applicant pool and will be offered homes based on the date they are placed in the pool and will be prioritized based on household size to home size. Some neighborhoods and homes may have different requirements for income, household size, etc. People who are in the applicant pool should be aware that they may not be the selected buyer for the next home that comes available.

  2. In the event the first applicant in the applicant pool (the “Preferred Buyer”) withdraws from the home purchasing process, the applicant(s) in the second position will be notified.

While an applicant is in the applicant pool, they are encouraged to:

  1. Attend a certified Homebuyer Education Course (http://www.wshfc.org/buyers/schedule.htm)

  2. Provide necessary documentation updates as requested.

  3. Ensure their credit is in good standing or take steps to improve it.

To keep the application active in the applicant pool, the applicant should update the following documents every year:

  • Tax returns for the last year

  • W-2s for the last year

  • Paystubs for the past 4 months

  • Bank statements for the past 6 months

  • Copy of your credit report at the time of application

  • Receipts and declarations for other forms of income or expenses

Likewise, if there is a dramatic change in your income or the number of family members, please report it as soon as possible.

Failure to provide updates within the timeframe requested will result in removal from the applicant pool. Should an applicant later provide such updates, they will be placed in the applicant pool with a new application date tied to the time they provide their update.