While you are at home, there are plenty of things you can be doing to prepare for buying your next home! We collected a list of things you can work on so that when the time comes to put an offer in on your dream home, it’s an easy & seamless process!!
- There is a ton of documentation necessary to qualify for a mortgage and to be approved. Here are some things that can be done in preparation:
- Assemble all documents needed to obtain pre-approval
- Photo ID
- Two months current pay check stubs
- Last two years’ W2s
- Checking and savings statements for last three months
- Copies of statements for 401k, savings, IRAs, CDs, etc.
- Employment history for last two years with employer info & adresses
- Proof bonuses or commission income
- Residency history for last two years with addresses, contacts (if you had landlord or management)
- Assets for down payment, closing costs,etc; must provide a paper trail
- If you are self-employed, last 2 years tax returns, current profit & loss statement and balance sheet; copy of partnership/corporate tax returns for last two years if owning more than 25% of company
- Other things may be required such as divorce decree or previous bankruptcy
- Get pre-approved and figure out how much you can borrow
- Determining the amount you can borrow – decreases as interest rates rise, right now interest rates are still low so give us a call if you’re ready to look at what you could afford
- Finding the best loan product for you/your family
- Finding any issues that could come up later early so you can fix them without delay
- Being able close faster due to having all information already given to mortgage company – verification has been made
- Narrow down your home search with the help of your Realtor (The Christy Buck Team)
- After you find out what you’re able to purchase, we can really narrow down the homes you’re interested in
- Find homes based off of needs- location, price, amentities, etc
- Virtual Tours- if you are not comfortable looking at homes, we can set up virtual tours you can view from the comfort of your own home!!