TOP 10 LIST BEFORE YOU START LOOKING FOR NEW HOME...
- Do an honest evaluation of your income...how much of a payment can you afford. The basic rule is to not exceed 31% of your gross income
- Make sure that all of your monthly bills are paid on time
- Revolving accounts need to be below 25% of the current high limit. Most people do not realize the credit bureau deducts for charging too much on your card
- Locate your last two years tax returns and W-2's ... you can not do a loan without them
- Locate your last two months bank account statements. We must prove you have the assets to close your loan
- Locate a full 30 days of pay stubs...If you are paid every two weeks, you will need 3 stubs..Your name and year to date income must show
- Get a Pre-Approval from a reputable lender...They will evaluate your credit and income and give you a maximum payment
- Work with a Realtor ... They will help guide you through the lending process as well as the home purchase... VERY IMPORTANT!!!
- Put together files with all your important communications from your lender...do not trust your memory!!!
- Never rush into anything...Make sure you have the assets and income to support your purchase! (after all it is nice to afford football tickets and have life than overextending yourself for 'four walls')
Let me know if I can help you with your new home journey...
With smiles,
Bo in Yukon
Search for your new home at www.OkRealEstateSearch.com
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Hi Bo, Your Top Ten list is something all buyers should keep in mind!