Preparing to Buy

Before you start shopping for your property, it’s a good idea to get organized and prepared.

Organize Your Documents

It’s important to gather all of your important financial documents and create a file for them. You will need these items to secure financing for your new property. Necessary documents include:

  • Financial statements
  • Bank accounts
  • Investments
  • 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

Check Your Credit Rating

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 we can help you determine what you can afford. The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union. We’ll be happy to recommend experienced, knowledgeable lenders in the residential, commercial and investment real estate fields.

Be Careful With Your Finances

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.

Leave a Reply

Your email address will not be published. Required fields are marked *