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PREPARATION
Before you start shopping for your dream home, it's a good idea to make some preparations:
- Build your green file
A green file contains all your important financial documents. You'll need it to secure financing for your home. The typical green file should contain:
• Financial statements
• Bank accounts Investments
• Credit card
• Auto loans
• Recent pay stubs
• Tax returns for two years
- Check your credit rating
Your credit score will have a huge impact on what type of home you can buy, and at what price. Anything above 620 is considered good. A premium interest rate may mean a lower interest rate on your mortgage. Check your credit rating with a credit reporting agency such as: Equifax, Experian or Trans Union
- Be Careful With Your Finances
Now is not a good time to make sudden career changes or large purchases. You want to approach home buying from a position of financial stability.
For more information and for any additional questions, please feel free to contact us at any time.
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