Mortgage Tips For The "Newbie" Home Buyer

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Your Credit Score:

    Prior to starting the home buying process you should check your credit score and your credit report.  Try to correct anything that will hinder your mortgage application.

How Much Can I Borrow:

      Lenders like to see a monthly payment (including taxes and insurance) at 28% or less of your monthly

gross  (before taxes) income.

Gather The Documents:

    Have ready to apply for your mortgage at least (2) years tax returns, (2) months bank statements, the latest (2) pay stubs and any other documents that you think you may need.

Get Pre-Approved:

     This is similar to full mortgage approval.  A letter from a loan institution, attached to your offer, will show a seller that you are a serious buyer and are already in the process of securing a mortgage.

Hope this information has helped.  If you have any questions please do not hesitate to call or text me at (307) 299-5583.