Get Your Credit in Check

Make sure you’re financially prepared for homeownership. Do you have a lot of debt? Plenty saved for a down payment? What about closing costs? Ask yourself, “How much house can I afford?” before you go further. Additionally, know that lenders look closely at your credit score when determining your eligibility for a mortgage loan. Check your credit score and do anything you can to improve it, such as lowering outstanding debt, disputing errors, and holding off on applying for other loans or credit cards.

Find the Right Lender

Just like you want to get the home that best suits your needs, you’ll want to find a lender that best suits you. We suggest you consider using a broker to help you find a lender, talk to your agent—we are here to help, ask friends and family for referrals, and compare at least three lenders.

Be Prepared

A lender will need information from you to get you pre-approved and through the home-buying process. Here are a few things to have ready:

• W-2 forms from the past two years·

• Pay stubs from the past 30 days·

• Federal tax returns from the past two years·

• Proof of other sources of income·

• Recent bank statements·

• Details on long-term debts such as car or student loans·

• ID and Social Security number

*If you’re self-employed, you may have to provide extra proof of your financial stability, including having a higher credit score or large cash reserves and possibly providing business tax returns.