Before you begin shopping for your perfect home, take a few simple steps.
Build Your Green File.
Your green file should contain all of the important financial documents you will need if you are planning to finance your next home, including the following:
- Bank, credit card and investment statements
- Auto loans and lease statements
- Recent pay stubs or retirement income
- Tax returns for two years
- Copies of leases for investment properties
- 401K statements, life insurance, stocks, bonds, and mutual account information.
Double-Check Your Credit
We are certain that your credit is stellar, but sometimes credit reports contain mistakes or out-of-date information. If you are planning to finance your home purchase, do a quick double-check. Most credit card companies offer free credit rating information to their clients. We can also recommend trusted professionals to help you obtain a report.
Say No, For Now, To That New Diamond Ring
With the prospect of financing a new home in your near future, we strongly recommend holding off on making large purchases or sudden career changes until escrow has closed.