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Like many others this spring, you’re on the hunt for that perfect home. With that home most likely comes the need toMortgage secure a mortgage. Because we want you to be as prepared as possible when you begin that search for a property, we compiled these quick tips for getting your ducks in a row when it comes to the mortgage game:

  • Know you’re ballpark budget range. When figuring just how much you’ll be able to spend on a home, we strongly encourage you to consider these factors – incomes, monthly bills, estimated living expenses, and how much you have saved for a down payment.
  • Research and choose what type of mortgage. The type of home you’re going after in addition to any assistance you may require will ultimately decide what type of loan that you’re eligible for. Perhaps it’s a loan from the Department of Veteran Affairs if you’re a military veteran. If you’re a first-time homebuyer with decent credit, you may be eligible for a Federal Housing Authority (FHA) loan. Know your options.
  • Know your credit score. Check on your credit. This is a good time to make sure this is on order and perhaps dispute any items that don’t look right.
  • Be precise with your paperwork. Your financial history will be tested. Thoroughly. Make sure you have all of the paper evidence you need. These include forms of ID, two years of income statements, two years of tax returns, and proof of any assets. These are extremely important documents when attempting to secure a mortgage. Have them at the ready.
  • Go and get pre-approved. It’s not a guarantee, but it will serve as a huge feather in your cap of the process.

Remember that luck rewards the prepared. This is hugely true in real estate when house hunting. Don’t the an opportunity of purchasing the perfect home fall by the wayside because you didn’t have your ducks in a row.

Good luck!




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