I strongly encourage anyone that is hoping to start looking for a new home to first talk to a mortgage lender, and work on getting pre-approval. Pre-approval will tell you what price range you can afford so you know what price range you need to search in. Sellers will take your offer more seriously when it comes with a pre-approval letter, and your mortgage process will be smoother and faster once your offer is accepted!
To secure a mortgage pre-approval, you must complete a mortgage application and submit all required documents. These can include:
Credit history, employment verification, recent pay stubs covering the last 30 days, W-2 forms from the last two years, proof of any additional income, last two years of personal federal income tax returns with all pages and schedules, bank statements that prove you have enough to cover the down payment and closing costs, last quarterly statements for asset accounts, including your 401(k), IRA, stock accounts, and mutual funds.
If you are ready to begin your home buying journey and would like my recommendations for a mortgage lender to acquire pre-approval, I would be happy to help! Just give me a call!