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HOME BUYING PROCESS

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Make Your Dream A Reality

When purchasing a home getting Pre-Approved is the first step to analyze your purchasing power before shopping for a new home. This allows you to know up to how much you qualify for a loan and to write an offer once you find your dream home. Having good standing credit and savings to fund the down payment give you the best ability to secure a good interest rate. 

 

During The Documentation Stage you are the most important player on the team. As quarterback of the documentation stage, there are a few critical documents the lender will be asking you to hand off. These documents include:

1.  W2’s – From the last 2 years

2.  1040 Federal Tax Returns – From the last 2 years

3.  2 Most Recent Paystubs

4.  2 Most Recent Bank Statements – All pages

5.  Copy of your driver’s license

During this stage, it is critical that you don’t change any aspects of your financial picture. This means:

·   No Major Purchases (e.g. Purchasing furniture for your new home)

·   No Applying for New Credit (e.g. Obtaining financing for Car)

·   No Change in Employment (Please Don’t Quit Your Job!)

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