Looking to buy?
Follow these home buying tips to save time and money while searching for your new home.
Deciding to Buy
Before you decide to buy, ask yourself these simple questions on why you want to buy?
Having a clear sense of your reasons for buying will help you choose the right property. So – what does it come down to?
PREPARING TO BUY
Gather your paperwork.
Having all the following documents on hand will expedite your loan approval process.
The typical paperwork needed is:
- Financial statements
- Bank accounts
- Credit cards
- Auto loans
- Recent pay stubs
- Tax returns for two years
- Copies of leases for investment properties
- 401K statements, life insurance, stocks, bonds, and mutual account information.
Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution so that you can determine what you can afford and what you are comfortable with. The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union.
We will be happy to recommend experienced, knowledgeable lenders in the residential, construction, and commercial and investment real estate fields.
Be careful with your finances.
Now is not a good time to make sudden career changes, large purchases, or open new lines of credit. You want to approach your property purchase from a position of financial stability.
Choosing Your aDoor Agent
It helps to have an expert in your corner when undertaking such a large purchase.
If you’re looking for more home buying tips, follow aDoor Real Estate for all the latest updates in the market. Check out our LinkedIn, Facebook page & Instagram.