Getting Started

Complete the initial Application

The first step to securing mortgage financing is by completing the initial application. You will want to gather all your important financial documents. This will include paystubs, w2’s, bank statements, and personal identification.

Know and understand your credit rating

Credit scores range between 400 and 800. 620 + is considered “good”. 740 + is considered a “premium” and may possibly help get you a lower interest rate.

Your lender will pull a credit report to help you determine what your current credit score is. If you need to improve your credit score, your lender will provide suggestions on how to improve this and also how to maintain a “good” credit score. Below you will find the contact information for the 3 major credit reporting agencies should you have questions about why your credit is reporting in a certain way.

Savings & Debt

If you are buying real estate, it can be helpful to save your funds towards your down payment, closing costs (appraisal, miscellaneous fees, escrow, title insurance, etc.) and expenses such as inspections. Make sure all savings are in a bank account with accessible statements.

Keep Things Consistent

Now is not a good time to change careers, move your money around, or buy big ticket items. Lenders like stability. So if you are considering any major changes, it pays to meet with a lender and ask them how to proceed before you make any changes! If you are tempted to buy a big ticket item, check with your lender first