The first step to buying a home today is getting pre-approved for a mortgage from lender. Be prepared for that first meeting, and be ready to have information on the following things:
1. Employment and income- 2 years if you are employeed, 5 years if you are self-employed
2. Outstanding debts- including student loans
3. Cash reserves and assets- retirement savings and gift funds
4. Down payment- cash you will pay out at closing
5. Loan purpose- new home, refinance, home equity line
6. Property use- primary residence, investment property
7. Property type- condo, single family, duplex
1. Employment and income- 2 years if you are employeed, 5 years if you are self-employed
2. Outstanding debts- including student loans
3. Cash reserves and assets- retirement savings and gift funds
4. Down payment- cash you will pay out at closing
5. Loan purpose- new home, refinance, home equity line
6. Property use- primary residence, investment property
7. Property type- condo, single family, duplex
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