Ok! Prices are great. Interest rates are low. Now what? Are you ready to purchase? Isn’t that the big question?
When you call me I’m going to recommend that before to do too much shopping, you need to pick a reputable lender and fill out the loan application documents. These forms are what get you “pre-qualified” for a purchase. Most importantly, they will tell you if you qualify to purchase, how much you qualify to purchase, and approximately how much your payments will be for the next 30-ish years.
So here’s a list of items that the lender will most likely ask for:
- 2 years of residence history (where, with who, how much)
- 2 years of employment history
- 2 years of tax returns or W-2 forms
- Year to Date Pay Stubs
- 2 Monthly bank statements
- Statements on other investments
- List of monthly debt, account numbers, payment, and balance
- Address of mortgage company or landlord for last 2 years
- Funds available for closing fees and down payment
- Driver’s license with photo
- Social Security Card
Monthly Payment Per $1000 (Plus, taxes and Insurance)
| Years | 5% | 5.5% | 6% | 6.5% |
| 30 | 5.37 | 5.68 | 6.00 | 6.32 |
Here’s a link to some of my favorite lenders in the Caroline/Spotsy Area. When you call, let them know where you are in the process of purchasing and they will gladly help you come up with the best plan of attack, and I will be here to help you find the perfect home that meets your requirements!
