Meeting Preparation

Assemble a file folder and include the applicable items on the list below to bring to the meeting and prepare to initiate the home purchase process. You may shop on your own or you may choose from my selected partners who will help you shop around for the best rates based on your credit rating.

Credit

FICO Score is a three-digit number that helps lenders determine how likely you are to repay a loan. This, in turn, affects how much you can borrow, time you will have to repay the loan, and how much the loan will cost the (interest rate).

If you shop on your own, DO NOT allow lenders to pull your credit report until you decide which you will select to do business. Any pull, but specifically a hard pull will chip away at your FICO Score increasing the interest rate you must pay for a loan and ultimately lower your qualification amount.

If you would like some tips on how to build your credit quick, please use the form below to email a request THE “Build Your Credit Quick Checklist!”

Folder Contents

  1. Order a free copy of your credit report– If you pull your own credit report, it will have little affect on your credit rating. Refer to the “First Time Home Buyer” page for how to receive a free credit report.
    • Verify all of the information on your credit report is correct.
    • Clear up any errors or inconsistencies. (If you need help, you may choose from one of my selected partners to provide assistance.)
  2. Keep in mind it is possible to negotiate with creditors to get your bill paid and penalties waived. Send me an email if you would like some guidance with this step.
  3. Your last 2 years tax returns.
  4. Two months worth of pay stubs, W-2s or other proof of income.
  5. Child Support, you will need to bring a certified copy of your final divorce decree from the court to show proof of the income.
  6. Bank Statements, Life Insurance, Investments – Lenders want to be sure you have several months’ worth of reserve mortgage payments.
  7. Down Payment – Lenders verify funds for down payment were in your account for at least a few months and didn’t just show up overnight. Be prepared to show proof.
  8. Written explanation of any blemish on your credit report such as a short sale or a foreclosure, and a statement to explain any negative items on your credit report. A one-time unavoidable circumstance will be viewed differently from repeated delinquencies.
  9. Gift Letter – Your friends and family might help you buy a house by giving you money. You’ll need to provide a written confirmation the money is indeed a gift and not a loan, the gift giver’s relationship to you as well as the amount of the gift.
  10. You’ll likely need to provide a photo ID, such as a driver’s license, or passport.
  11. For buyers who don’t already own a home, or have little credit history, a year’s worth of canceled rent checks cashed by your landlord, or a letter from your landlord to show that you paid your rent on time.
  12. For VA Loans – Your DD214 and your Certificate of Eligibility here is a link to the list of eligibility requirements. https://www.va.gov/housing-assistance/home-loans/eligibility/

If you would like request a phone, or in person consultation, please fill out the following form to request an appointment. I would be happy to help you collect what you will need, and set up your appointment with a loan officer, if you don’t have one.

Let’s Get Started!

Thank you for your time. I will respond within 24 hours.

Oh, by the way . . . I am never too busy for your questions, your business, or your referrals!

Thank you in advance for your confidence, and recommendations to your family and friends. 

I hope this post was constructive. I appreciate your feedback. Please send your thoughts, or ideas via email, or let me know how the information helped you. I find it useful to keep me on track.