Welcome to home buying season.  Every spring is the official start of the new home buying season.   As the flowers start to bloom people begin to think about moving into a new home and spring tends to make buyers blossom and begin the process.  Before one start to look for a new home you first must figure out what you qualify for in terms of a house payment and purchase price.  In order to do that talk to your local professional loan officer who can assist you.

 

What Do I Need To Get Started?

In order to get started you will need to have the following information handy so a loan officer can help determine what you will qualify for.

2 current pay stubs

2016 & 2017 W-2’s, 1099’s and possible Tax Returns if you are self employed or a commission employee.

2 months bank statements all pages

Divorce Decree (if applicable)

bankruptcy papers all pages including discharge notice (if applicable)

leases if you own rental property

possible mortgage statements, insurance declaration page, HOA information.

This list is just a partial list of items needed to get started to get yoru pre-qualified.

 

What’s Next?

Once you have been pre-qualified, contact your favorite Realtor and let them know the type of property and price range you are looking for.  For example,  tell them number of bedroom, bathrooms and area you are interested in.   You may also want them to focus on single story or two story home.  Give your Realtor as much information as possible so they can focus their search on the criteria you want.  I also tell buyers create a wants and needs list.  If you get all of yoru wants and some of your needs than you are a head of the game.

 

Last thing to remember,  You are the one who needs to be comfortable in what you are spending and what your house payment is,  Not the Realtor or Loan Officer.  Nobody wants you to be house poor.  Make sure you are comfortable making that payment because the Realtor nor the Loan Officer is going to make that payment for you.

 

If you would like more information click on the link on this page or contact Bruce Singer with Vision Home Mortgage at 702-217-5525.