HOME BUYING PROCESS

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!)