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Preparing to Buy

Before you start shopping for your property, it is a good idea to make some preparations.

Build Your Green File.

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

  • 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.

Apply for a Mortgage Pre-Approval

Having a mortgage Pre-Approval give you an edge on shopping for homes.

If you want to stand out from other home buyers in a competitive housing market, one surefire way to do that is to get pre-approved for a mortgage. That means a lender has guaranteed to give you a loan before you’ve even made an offer—or even before you’ve seen a home you like! Granted, this may seem like a whole lot of prep work, but here’s why mortgage pre-approval matters, and how it can give you an edge when shopping for a home.

What is a mortgage pre-approval?

Mortgage pre-approval is a commitment from a lender to provide you with home financing up to a certain loan amount—basically the stamp of approval that you have the money, credit history, and other credentials to buy a home up to that price.

How a pre-approval helps to buy a home…

When sellers accept an offer, they want the deal to go through. However, if the buyer isn’t pre-approved for a loan, this can put the whole deal in jeopardy.

A pre-approval provides that extra measure of security to a seller that you are willing and able to buy the house. As a result, sellers will likely pick you as a buyer over someone without pre-approval since you’re a sure thing.

Bottom line: While pre-approval is a pain, you’ll have to pony up all that paperwork sooner or later anyway. Why not do it on the early side and get a head start on the competition and shop for your dream home with confidence?

Apply now! Click here!