Ownership by Individuals·
Primary applicant:
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o Must be an individual on the title
o Must submit credit application and must pass credit if only applicant
o Must be on the agreement
· Non-title applicant:
o Does not need to be on the title
o Must submit a credit application
o Must be on the agreement
· Exact name from title must be on the homeowner agreement and all credit applicants must be an executor of the agreement
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o Trustee must reside in the property and pass credit requirements
o Exact name of the trustee on the trust must be on the homeowner agreement and trustee must be executor of agreement
o Additional documents required: Pages of the document/trust showing the full name of the trust, all trustees, and the date of formation of the trust
Ownership by LLC, S Corp and C Corp
o Director or officer of the entity must reside in the property and must pass credit requirements
o Exact name of the trustee must be on the homeowner agreement and director or officer must be executor of agreement
o Additional documentation required: Business formation documents showing all officers and directors of the entity
Ownership by Individuals
Primary applicant:
o Must be an individual on the title
o Must pass credit requirements
o Must be on the agreement
Non-title applicants are allowed
Exact The exact name from the title must be on the homeowner agreement and must be anand the executor of the agreement
Ownership by Trust
Trustee The trustee must reside in the property
Pass credit requirements
Exact The exact name must be on the homeowner agreement and the trustee must be an executor
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name of the trust, all trustees, and the date of formation of the trust
Ownership by LLC, S Corp, and C Corp
Director The director or officer of the entity must reside in the property and must be an executor
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