Anyone who watches shows about real estate sees the glam. The house hunting. The cocktails at trendy downtown bars with the Realtor. The lender calling to happily tell the clients that their financing came through. Maybe even two hunks coming over to do all of your renovations and design. Although some of these aspects can shine through into real life- often times how smooth and glamorous the home buying process can go is dependent on you the buyer and the transaction partners you choose. Since you are on our blog we are assuming you have already thought about making a wise decision for your team, here are some tips that you can follow to make the process go as fast and smooth as possible so that when you find your dream home the rest will be a breeze.
Step 1: Prepare a File (we recommend hard copies and electronic copies for you and your co-borrower for the below items)
- Gather your 2 most recent tax returns and W2s
- Save your 2 most recent statements for any assets that will be used toward down payment and closing costs; include new statements as you receive them
- Prepare a list of all employers covering a full 2 years minimum
- Keep recent pay stubs handy
- Obtain any documentation regarding divorces, child support, or credit-related situations
Step 2: Bring or send the file to your lender ASAP.
Step 3: Before you even go house hunting obtain a quality pre-approval letter from a local mortgage company. Although many people wait to do this until after they find the right home- this can often result in you not getting an offer in on time and losing out.
Step 4: Respond quickly– If the lender or agent asks you for a document, get it to them quickly. They want to get you from A-B and occasionally will need more information.
Step 5: Don’t Stress. As long as you surrounded yourself with the right people they will take you from here to closing.
If you are a home buyer in or around Grand Rapids, MI call Treadstone Funding today.
Check out our mortgage programs!