Mortgage Tips

1.	Check your credit - take a look at your credit before any lender does. Take care of any problems that exist and try to clear them up. This gives you the opportunity to make sure there are no errors on your credit report. Plan ahead and pay down any credit card debt as much as possible before you apply for a mortgage. If you have any open credit cards on which you do not carry any balances, close those accounts.

2.	Get pre-qualified - meet with a qualified mortgage lender and get pre-qualified before you start looking at homes to purchase. Your Realtor can make recommendations of qualified lenders. The worst thing your Realtor can do for you is to show you a home that you love, but can't afford.

3.	Collect all necessary information that will be required for your formal loan application. You will need to provide information regarding your employment history, finances, and information about the house you are buying. Your lender will require the following information:
	W-2 forms for the past two years for all borrowers Federal income tax returns for the past two years if you are self-employed. Recent pay check stubs Two months bank statements Complete list of all your debts and creditors, including balances and monthly payments. Investment records including mutual fund statements, 401K statements, and retirement plans.
4.	If you are organized and can provide your lender with all information in a timely manner, your loan application process should progress smoothly!