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Financing Your Home

The home-buying process starts with organizing and understanding your finances. It’s important to assess your financial situation and be informed about the mortgage process, types of mortgages available, and interest rates.

1. Clean up your credit. Review your credit reports and see if there are any errors that you need to correct.

2. Determine how much cash you have for a down payment and closing costs. 

3. Research the mortgage process, types of mortgages, escrow accounts, current interest rates, etc.

4. Determine your budget for a mortgage payment. Your lender decides what you can borrow, but you decide what you can afford. Lenders make qualification decisions based on averages and formulas. Formulas can't possibly take into account your unique financial position and spending patterns as well as you can. In the long run, your own peace of mind and security will matter most.

5. Compare mortgage rates and closing costs. These rates and costs can very significantly from lender to lender.

6. Find a local, qualified lender you can trust. You can check out our vendor page for lenders that we know and trust.   

7. Gather your financial documentation for your lender. The documentation required will vary from lender to lender, here is a general list of documentation required.

8. Get pre-approved.