Blog posted On September 28, 2023
Purchasing a home, especially your first home, will be one of the most important transactions of your life. When you apply for a mortgage, there are some critical steps you should take. Below are some of the most crucial steps that you should take prior to shopping for your first home.
Decide how much of a house payment you can afford each month. Ultimately, it won’t be your real estate agent, your lender, or anyone else who will be making your mortgage payments each month for you, so you need to decide what works for you. If you get stuck or don’t know where to start, we can help. Just get started on your preapproval.
Start Early. This cannot be overemphasized. There are different requirements for different mortgage programs. Processes may need to happen before you are in a buy-ready position; these include:
Prepare your documents. An important step that you can take prior to applying is to come prepared, meaning that you’ll have all the documentation that your lender asks for, and needs to be able to provide you with an accurate estimate of what you’ll be able to afford when home shopping. Here are some important ones to start gathering:
Once you have found a property to purchase, the lender may ask you for additional documents. Please know that they are all necessary, and provide them promptly, to keep your loan on track. To get started, click the get started button above!