Buying a home can be exciting and scary, especially for first-time buyers! Here are a few tips to help the process go smooth.

  • Gather all of the documentation that you will need to get prequalified for a home loan.  These are the documents that are typically required by lenders to get you prequalified.  (Requirements from lenders can vary.)
    • Last two years of tax returns (1040 & 1120 as applicable)
    • Last two years W-2s or K1s, as applicable
    • Last two months bank statements
    • Pay stubs from the last 30 days
    • Proof of down payment (if you are receiving a gift, the donor’s info)
  • Work towards smooth financing by making sure that you…
    • Don’t make any large purchases that might affect your credit
    • File and pay all taxes
    • Watch out for write-offs and tax deductions! They diminish your buying power!
    • Be careful of large deposits that are not payroll related.
    • Unless you are getting an awesome promotion, try to avoid changing jobs right before purchasing a home.  Lenders usually want to see a solid and consistent work history.
    • Disclose all debts under your name.
  • Find an amazing Real Estate Agent that will set you up with all of the tools and information that you will need to have a fun and successful home purchase experience.