Home Buying Seem Like a Puzzle?
Make sure you have all your pieces together to buy your home this Spring!
For those who are looking to purchase a home in the near future, you may have already noticed the current lack of inventory on the market. Good news is we are still early in the year and home buying season will begin to warm up the closer we get to Spring. Check out these quick tips to help prepare you to make an offer once your dream home hits the market.
Taking a close look at your credit before beginning the home buying process is important for getting approved for financing!
Your credit is likely in good shape if you pay your bills on time and have avoided major issues like bankruptcy, foreclosure, short sales and judgments. However it is always a good idea to check your credit a couple of times a year to make sure everything looks correct on your credit report.
For some tips on how to keep up your good credit score or to improve your score check out our other blog articles The Somewhat and Not So Obvious Credit Score Tips or Tips for Maintaining a Good Credit Score.
You rarely need a 20% down payment. In reality, many programs will work with as little as 3-5%, and in some cases, as low as 0 down. Here at Absolute, we offer a variety of loan programs from your Standard Conventional loan to VA loans for veterans. Check out our Loan Programs page to learn about these what down payments are required or contact one our Mortgage Advisors directly for questions any specific programs.
Knowing what documents you will need to provide as you are qualifying for financing will help you get organized in advance. Most common documents will include:
- Last month of most recent paystubs
- W-2’s for the past two years
- 2 months statements for all accounts; including all checking, savings, stocks, IRA, 401k, etc.’
For a complete list of required documents check out our Document Checklist page.
Find Your Team
Here at Absolute Mortgage Issaquah we are proud to have a team of Mortgage Advisors who are seasoned in the industry and have the skills and knowledge to guide you through a smooth financing transaction. With a great support staff and plenty of loan options to finance your future home, you can trust you will be in good hands.