Get Pre-Approved

Your lender will look at your income, credit scores, revolving debts, obligations such as child support as well as the type of loan you choose. Other factors that impact how much home you can buy is the down payment; smaller down payments mean higher monthly payments. Lastly, the interest rate and terms (30-year, fixed or adjustable rate) will determine what you can afford in monthly payments.

You will want to financially prepare for the homebuying process.  A “green file” contains all your important financial documents that you will need to secure financing for your property. The typical green file should contain the most recent copies of your:

• Income verification
• Tax returns for two years
• Financial statements for bank and investment accounts
• Credit card statements
• Auto loans
• 401K statements, life insurance, stocks, bonds, and mutual account information