Are you excited to buy your first home?
Here are 3 very helpful steps to take, prior to going down this exciting path:
1. Gather income & asset documents you will need to get preapproved.
- Your most recent 30 days of pay stubs
- Most recent 2 months of bank/credit union statements
- Most recent 2 years, W2s, 1099s, K-1s
- If self-employed, you will also need your most recent 2 years of federal tax returns, both personal and business
2. Contact at least 2 mortgage lenders to get preapproved and learn about the loan options they have available that you qualify for.
This is the biggest purchase you will make in your life; make sure you are getting the best loan for your needs.
3. Contact a realtor to provide you with listings that fit your desired home specifications in your approved price range and learn about the current housing market and surrounding communities.
If you do these 3 steps before you start looking for a home, it will help make your home-buying process much more smooth and timely. Be prepared so you can make informed decisions regarding this wonderful life event.
Blog Post Written By: Julie Rajek
Julie Rajek is a Bank Five Nine Senior Mortgage Lender with nearly 20 years of experience and has helped thousands of homebuyers realize their dream of homeownership.
To learn more about Julie, apply for a loan or to receive a free consultation click here.