First Step to Buying a Home!

Get prequalified! The first step in the home buying process is to see how much you qualify for. The easiest way to do this is to reach out to a local lender. Ask them to provide you with a complementary prequal letter.

What you will need

Standard lenders will require you to provide at the very least 2 years of your W2 forms and tax returns. They will also want the most recent 30 day pay stub and most recent 60 day bank statement. If you are self employed (1099 based) most likely they will ask for a 2 year average after expenses tax return. If you are solely commission based they are going to want to see at least 1 year of average income from those commissions.

Loan Options Available

There are so many loan options available. The most common are FHA (Federal Housing Administration), Conventional and VA loans. FHA is a great option for first time home buyer's because it allows you to only put 3.5% down. There are also plenty of down payment assistance options that vary by city/county. These programs can offer money towards your down payment.

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