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If you haven’t spoken to a mortgage professional yet, the sooner the better! It is never too early to get your funding in order, and a relationship with a rockstar loan officer established.
We can refer you to a great mortgage professional
We’re happy to help you with referrals to excellent, local lenders. We don’t make any money from relationships with lenders—our interest is only in helping our buyers get connected with reputable and trustworthy mortgage professionals.
Pre-approval before house shopping
When we go house shopping, we want to be sure that we’re seeing houses that we could actually write an offer on. We also have to move quickly when we find ‘THE house’, and we don’t have time then to go through financing approval.
Questions to ask your lender
- Ask if you qualify for down payment assistance, first-time home buyer, veterans (VA/DVA) or other programs that may help you afford home ownership
- Ask how much you need down and to bring to closing. Typically, you need 20% down for a conventional loan, 3.5% down for an FHA loan, but ask your loan officer.
- Ask what your ‘sweet spot’ is versus just the toip end of what you can afford. You, us and your lender all want your payment to be comfortable, and we can approach our home search accordingly for you.
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What you need to get pre-approved
Talk to the loan officer first, as lenders have different requirements, but here’s a list of the typical documents that you need to prove income and assets.
- Paystubs for the last month or two
- W2s and 1099s for the last two years
- Personal tax returns for the last two years
- If self-employed: P&L & balance sheet
- Proof of any other income
- Bank statements for two months
- Any other sources of funds like retirement accounts
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