Owning a home is the ultimate American dream. But where should you start, and what is the first thing you should do?
First, you need to do a bit of self-reflect and say, "OK, am I ready to buy a home? Am I paying too much in rent to save for a house? What can I afford? Where am I in my career with my job? Where am I at with my credit? Do I need help establishing credit, or am I looking to improve or do something to put me on the right path?"
These may be a lot of questions to ask, but you have to answer these questions if you want to begin your journey towards smart homeownership. Finding out your financial fingerprint and how it applies to the home buying process can help you determine what loans you can qualify for or programs you may be eligible for when you speak to a loan officer.
It's smart to be prepared and will make things smoother with the mortgage loan process.
And before you start the loan application process, here's a list of items you need to get in order:
Driver's License or Identification Card
Social Security Card
Permanent Resident Alien Card, if applicable
Award Letter(s) for Social Security or Pension Income, if applicable
1-month's most recent pay stubs
Year-End Pay Stubs for past two years, if available
Past Two Years W-2(s)
Past Year Federal Tax Returns and all schedules, if filed
Past Two Years Federal Tax Returns and all schedules
2-month's recent bank statement(s) (all pages)
Recent mortgage statement for all financed properties owned, if applicable
If you're ready to start the mortgage loan process, give us a call at (559) 664-1930. And stay tuned for more episodes of the ZABE Smart Mortgage Podcast.