To pre qualify for your dream house, we recommend taking a few steps to be certain you are well prepared. The first step is to have a solid income and credit history.
To qualify for your dream mortgage it is important that you have a verifiable income source and credit score as well as evidence of any savings or debt that needs to be paid off before the mortgage loan can commence. Verifying income sources and addressing any outstanding debts will ensure that your mortgage application has the best chance of acceptance.
Here are some tips to get you started.
Have a verifiable source of income. Depending on your circumstances, you may need to show proof of pay stubs, tax returns and other records that demonstrate an income sufficient to meet the mortgage loan requirements.
Have an accurate budget for anticipated expenses associated with your home purchase. This can help any lender determine if your income and credit history are sufficient enough for the mortgage loan requirements for a particular type of loan or a particular area and/or neighborhood . Be sure to include items such as home and car maintenance, property taxes and insurance payments in addition to monthly expenses such as food, entertainment, transportation and emergencies . Be aware of any debts that will be included in your budget.
To qualify for your dream mortgage it is important that you have a verifiable income source and credit score as well as evidence of any savings or debt that needs to be paid off before the mortgage loan can commence. Verifying income sources and addressing any outstanding debts will ensure that your mortgage application has the best chance of acceptance.
Here are some tips to get you started.
Have a verifiable source of income. Depending on your circumstances, you may need to show proof of pay stubs, tax returns and other records that demonstrate an income sufficient to meet the mortgage loan requirements.
Have an accurate budget for anticipated expenses associated with your home purchase. This can help any lender determine if your income and credit history are sufficient enough for the mortgage loan requirements for a particular type of loan or a particular area and/or neighborhood . Be sure to include items such as home and car maintenance, property taxes and insurance payments in addition to monthly expenses such as food, entertainment, transportation and emergencies . Be aware of any debts that will be included in your budget.
