Thursday, March 4, 2010

Steps to Take Before You Shop or Speak to a Mortgage Company

* Check out your credit report. You can your credit report and scores in many places on the internet or contact os at; to Get Free Credit Report. We can give you information about your credit report when you inquire.

* If your credit scores are anything less than 620, start looking at ways to improve your credit and scores. You might need to establish more credit, or repair what you have. We can help you with this

* If your scores are higher than 620, gather up your last 30 days of pay-stubs, your last 2 year’s W-2's, and your last two months of bank statements (if you don’t have a bank account - start one immediately. If you are self employed or you are a commissioned sales person, gather up your last two years of full tax returns.

* Start saving money - stay home for dinner an extra night of the week. Pack your lunch, turn off more electricity when you are not using it, wash your own car, make your own coffee (sorry Starbucks). The more you have in the bank the better. Even if you don’t use it for the home purchase, you’ll want money once you move in to purchase new furniture etc.

* If you are buying your first home then learn more about the home buying process and home ownership and especially read up on FHA Loans.

* No matter whether this is your first home or a move home, or even a vacation home you should get educated on loan programs and control your own destiny. .

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