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Home Purchase Tips

Looking to purchase a home?

Here are a few tips to help your loan process go quickly and smoothly

  1. Make sure your credit is in good shape
    1. Check your credit score
      1. Excellent Credit: 750+
      2. Good Credit: 700-749
      3. Fair Credit: 650-699
      4. Poor Credit: 600-649
    2. Try to get your credit card balances below 40% of the limit
      1. Having documented proof of your last 12 months of payment is often required by the lender
    3. Obtain proof of employment for the past 2 years
      1. W-2s and tax returns
      2. Paystubs covering 30 days
      3. Be prepared to explain any gaps in employment
    4. Avoid large deposits or withdrawals from your bank account
    5. Determine a down payment amount based on your available funds
    6. Obtain a pre-approval letter from an Independent Mortgage Professional
    7. Research a local real estate agent