Before you start shopping for your property, it is a good idea to make some preparations.
Schedule a consultation with a lender:
A lender can pre-approve you for a mortgage. It’s best to have this done as early as possible so you can: 1) Identify the documents you will need for the final loan application; 2) Find out problems with your credit – such as errors on your report that need addressing; 3) Get an idea of how much you can borrow. You probably shouldn’t borrow up to your limit, but it’s important to know how much you can afford before you look at homes. Your lender can talk to you about loan programs and give you an idea of how much cash you’ll need to buy a home.
Create a File for Important Documents.
If you will need it to secure financing for your property. The typical file should contain:
- Financial statements
- Bank accounts
- 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.
Be Careful With Your Finances.
Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.
These are just samples of Bob Harder's Tip's For Home Buyers, ``How To Avoid Paying To Much`` for a complete report, check the box next to `` Home Buyers, How To Avoid Paying To Much`` then fill out the form and press send.