Steps to home ownership
Getting Ready to Buy A Home
The process of buying a home can be astronomic. One of the first steps is to get ready, gather records and documents, and find out how much house you can afford. How much funding will you have for a down payment? How much can you afford to pay each month for the your home mortgage and home disbursement? Keep a log and gather up your past three years tax returns, your credit report, and other related items.Remember to contact your loan officer to go over all the items you will need to begin your loan process.
Items your loan officer will probably ask for: 2 or 3 years of W-2 forms and current pay stubs, a 2-year employment history, landlord references for two years, bank statements and credit card balances.
Research what types of mortgage loans are available for you. The are VA loans for veterans, conventional and adjusted rate mortgages (ARMs), as well as opportunities to purchase with HUD.
A wise home buyer is a educated home buyer. It is wise to consult an experienced real estate agent (Realtor) for advice on the local market, first time home buyer tax credits, many types of financing and other issues involved with buying a home.
Ready to find and buy your home: Contact our real estate team members today. Email Us Click Here. Our team is ready to answer your home buyer questions and assist you with your search.
Ready to Shop for a home mortgage
These are some of the important documents you will need when you meet with your home loan officer.
- Provide Driver licenses for all those involved in buying the home (spouse/others)
- Past 3 years tax returns with W-2 forms or payroll stubs
- If you are self-employed - last years profit-and-loss statements
- Your social security card (both cards if buying a home jointly)
- Name of your bank and checking and savings account statements
- IRA and other retirement account statements
- Your recent credit card statements and car loan information
- Mutual fund and stock statements
- Paper work of current debts
- Serial numbers and copies of any U.S. Savings Bonds
- Letter of gifts for down payments
- Divorce paper work and property settlements
- Military ID or discharge papers
- Any other current mortgage company statements
- Current closing statement on current residence
- Paper work of child support payments (received or paid)
- Any bankruptcy petition
Here are some useful online resources: New Home Owner Guide, ask the builder, and IRS Gov
Contact us by phone directly: Please dial (609) 334 - 0641 and leave a short message regarding what area of town and city of your real estate interest.
Website Inquiry Business Address: CO/Jane Sadowy
Real Estate Ask Us.com, P.O. Box 2599, Mercerville, NJ. 08690
You may expect a reply back from us or our real estate experts within two business days.
Thank you.
Jane Sadowy
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