Collect Info
This is one of the first and MOST important steps in the home buying process.
This process can take as little as 24 hours, however sometimes it can take up to a week.
Beginning this process early is crucial for buyer power:
Indicates to Sellers you are serious
Demonstrates you have the funding
Speeds up the process
Prevents you from missing out on a sale
There are various types of mortgages available:
Fixed rate Conventional Loans
FHA, VA, and USDA
Adjustable Rate Mortgage Loan (also known as ARMs)
Second Mortgages & Home Equity Loans
Construction, Remodel, Rehab and Lot Loans
Gather Documents
You typically need these items to begin the pre-qualifying process:
Most recent paystubs covering 30 days and including YTD amounts
Last 2 years tax returns
Last 2 years W2's
If self-employed, 2 years personal & business tax returns & YTD P&L statement
Last 2 months complete bank statements (all pages)
Last 2 months or quarterly retierment statements (IRAs, 401k's, ect.)
Current mortgage statement (if applicable)
Copy of declaration page from homeowners insurance (if applicable)
Any other information that you think will help your lender evaluate your credit (proof of additional income, degrees ect.)
Select Your Lender
I will do my best to guide you through the process of getting pre-qualified.
Getting Pre-qualified is typically FREE with most lenders.
To help you get started I have gathered a few of my recommended local lenders.
