How exciting the thought of a new home is. Perhaps this is your first home, or you may be moving to a larger home for your growing family, or possibly it’s time to down size a bit and make life easier with ‘less’ house. Whatever your motivation is, there is no doubt that things are about to get exciting! So let’s start at the beginning. You will need to gather some pertinent information such as:
* 2 years w-2 statements
*a month of recent paystubs
*most recent bank statements for all accounts, both checking and savings
*most recent statement for any investments or retirement funds
*full name, address, date of birth, and social security number
With this information, it will be possible to review your credit and income, as well as your monthly debts. After this review we can tell you if you will qualify for a mortgage, how soon, and how much of a mortgage. This review will also outline what programs you will qualify for, what down payment is required, and an idea of what the current interest rate is, as well as what closing costs will be involved. You will have the full picture of what will be necessary to purchase your new home. Whether you are ready to move now, or just considering a move in the future, a pre approval will be your road map to get there!