Preparing to Buy a Home

Preparing for Home-Loan Approval

2 Years in Advance

• Start saving for your down payment!
• Establish 2 + years working for your current employer
• Lower your Debt to Income Ratio to at least 40%. The lower the better!
• Avoid opening new accounts.

1 Year in Advance

• Keep saving!
• Improve your credit:
  • Check your credit report for errors
  • Pay outstanding debt
  • Keep accounts paid down

4-6 Months in Advance

• Keep saving!
• Keep money in your accounts.
  • Financial gifts need to be in your account for at least 2 months.
• No new debt.
• Gather paperwork: W-2s, tax returns, pay stubs, bank statements, credit card statements and investment account statements.

For more information on getting a mortgage, speak with one of our Mortgage Loan Officers today!