Check List for First-Time Home buyers
Many people become overwhelmed when they set out to purchase a home for the first time. Here is a check list for first-time home buyers with the very first steps you should take when looking to buy a home.
- Get Pre-qualified with a lender.
- When you schedule your pre-qualification meeting, make sure to bring your previous year’s W2, pay stubs, and a bank statement
- Be prepared for a credit report- this shows you what programs you are eligible for. There is no fee to have this credit report done. ~Make sure you have the date of birth, social security number, and address for all parties
- With all of your documentation provided, consult with your lending partner to see what you can afford.
- Receive your pre-qualification letter
The most common mistake made by first-time home buyers is not having the required information for the consultation with a lender or for the credit report.
Make sure to ask your lender about any programs that may be offered for first-time home buyers.