Preparing to Buy

I know you believe you are ready to go out house hunting, BUT before you start shopping for your property, it is a good idea to make some preparations.

Get Your Money In Order

Get all your important financial documents ready for your lender. I know a couple of EXCELLENT lenders I can easily recommend.  You will need it to be pre-approved for your loan and know what price range you will really feel comfortable shopping in. You file should contain:

  • Financial statements
  • Bank accounts
  • Investments
  • Credit cards
  • Auto loans
  • Recent pay stubs
  • Tax returns for two years
  • Copies of leases for investment properties
  • 401K statements, life insurance, stocks, bonds, and mutual account information.

Check Your Credit Rating.

Your lender will check your credit score and it will have a huge impact on what type of property you can buy, and at what price.  The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union.

Be Careful With Your Finances.

Now is not a good time to make sudden career changes or large purchases. Please walk away from the urge to test drive any new cars. You want to approach your property purchase from a position of financial stability.