You Have 30 Days!

You’ve heard it from me and probably from a lot of other people, but shopping around for a mortgage can save you THOUSANDS of dollars over the life of your loan!

Like any major purchase, you want to be sure that you are getting the best deal for you and your particular situation. But you also know that having your credit checked multiple times can lower your CREDIT SCORE, so how can you make the best choices?

The credit bureaus actually have a rule in place which gives you 30 DAYS to shop for a mortgage WITHOUT it affecting your credit score! So if you are serious about shopping for a lender to finance your home it’s important to be prepared to go through the application to Pre-Approval process with multiple lenders QUICKLY!

Know Your Information: 
It seems basic, but when you start the application process you will need to know information such as Social Security numbers, previous addresses, and contact information for current and past employers. If you can’t remember this information off the top of your head you’ll need to prepare it in advance.

Have Your Basic Documentation Ready:
There are several basic documents your lender will need to get started on your Pre-Approval. They include:

  • Photo IDs
  • W2s – Previous two years
  • Bank Statements – Most recent 2 months
  • Paystubs – The most recent 30 days

Be Prepared To Provide Additional Documentation:
Once a lender has actually examined YOUR PARTICULAR situation, they may request additional documents such as additional bank statements, child support documentation, or a business license. Even if you don’t have copies of these documents on hand, it’s a good idea to know in advance how to obtain them.

I’d love to help you figure out how to start working towards owning a home NOW! Comment down below! 👇 

Justice Roberts Loan Officer

Justice Roberts

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