What Should You Look For in an Accountant?

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The Pre-Approval Process

Lenders don't give loans based on good public standing any more. Now they're checking every inch of financial history. You'll need to be prepared to prove your income, assets, and employment. Lenders will also run a detailed credit report.

​Start collecting the following documents to bring to your lender: past two years tax returns with W-2's, recent pay stubs, proof of any additional income, recent bank and investment account statements. Pre-approval helps to speed up the underwriting and loan approval process after you've received an accepted contract to buy.

Finding a Lender

Don't rely on your friends, family, or an estimated loan calculator to determine how much you can actually afford when it comes to buying a home. Avoid the disappointment of being told the house you've put an offer on is beyond what you can financially swallow. Instead, start talking to a lender NOW. 

I've got several lenders and mortgage brokers that I can recommend to help guide you on your mortgage journey. 

Making Adjustments

Did you know that a credit score lower than 740 can result in higher rates? Or that self-employment can create a hiccup for you in the lending process? These are some surprises you don't want to wait to find out about. Talk to your lender about what you can do in the mean time to make your future application more pleasant.

It's also important to note that while your lender might approve you for a high dollar home, you need to be honest with yourself about spending habits. It's better to choose a home with lower monthly payments. A higher payment home requires you to reduce the amount spent on your normal lifestyle in order for you to have room for home repairs and improvements.