Mortgage Preparation

Here are some tips that will help you as you prepare to apply for a mortgage!

Check your credit report! The better your score, the better your chances are to not only get a mortgage but to get a great rate as well...especially with rates as low as they are now. You will want to get a copy of your credit report from the three main agencies (Experian, Equifax, and TransUnion) and read over the reports. Correct any errors and try to resolve any issues before applying.

Be prepared! There are certain documents you will want to have ready when you go to apply for a loan. Things like your last two pay stubs, W-2 forms, tax returns, and bank statements. Don't wait for them to ask for them, have them ready! Another great idea is to scan any documents the lender asks for so you have an electronic copy that can be easily sent over if requested.

How much can you afford? Your lender will help you with this and can tell you how much you qualify for but you want to also go within a range that is most comfortable for you. Make sure to keep in mind any of the extra expenses that may come up when purchasing a home.