It's important to know what you can actually afford (that also fits your lifestyle) before you start the shopping process.

 

Many people get pre-approved for the maximum they will be able to afford with their income and debts - but that number doesn't always factor in vacations you like to take, fun things you like to buy, or the running tab you have at your favorite restaurants.  

 

TALLY THE YEAR

First, we recommend making a budget from the previous year that truly shows what you spent on EVERYTHING. While you're doing this, you should also...

​

GATHER YOUR GREEN FILE​

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

• Financial statements

• Bank accounts

• Investments

• Credit cards

• Auto loans

• Recent pay stubs

• Tax returns for two years

• Copies of leases for investment properties

• 401K statements, life insurance, stocks, bonds, and mutual account information.

​

CHECK YOUR CREDIT SCORE

Your credit score will have a huge impact on what type of property you can buy, and at what price. The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union.

 

We will be happy to recommend experienced, knowledgeable lenders in the residential, construction, and commercial and investment real estate fields. Just reach out to us.