Advice on buying a home

It pays to get organized. Put your finances in order, get pre-approved for a loan, and you'll know what you can afford to buy. Start a Home-Buying File
If you keep your records in one place, you can get organized in a few hours. Start a file for papers, sales brochures and other information you'll accumulate, including:

  • Credit data

    • Check your credit and correct any credit problems you may have before the lender gets your credit report.

  • Loan documents

    • Gather financial information the lender will request.

  • Real estate listings

    • Search for home listings online.

  • Inspection reports

    • See a sample inspection report. (Download Microsoft Word doc, 511k)

  • Insurance information

    • Choose insurance wisely and cut your insurance costs.

 

Get Pre-Approved

Getting pre-approved gives you an estimate of how much you can borrow and puts you in a better position to buy. To get pre-approved for a loan, you need to know your:

  • Cash available for a down payment
  • Cash available for closing costs
  • Current income
  • Job status
  • Estimated assets
  • Estimated debts

Other Resources: