Your first step should be to check your credit report to make sure that there are no discrepancies or other derogatory marks on it. You can obtain one free credit report a year from each major credit agency. Knowing what is on your credit report ahead of time allows you to clear up any mistakes before you apply for a mortgage.
Before you begin your house hunting adventure, you should get pre-approved for a mortgage by one of our dedicated loan officers at Starboard Financial. Having a pre-approval will let you know just how much house you can afford.
Getting a mortgage, or a pre-approval, requires some necessary paperwork. You will need to compile a good deal of information to submit along with your mortgage application. Having it all together and ready to go before you fill out the application will help you get a better picture of what your overall financial picture is.
Collecting all the paperwork ahead of time will also help your loan officer move the process along and get you a loan sooner. You should have income verification, such as several recent pay stubs, showing the earnings of everyone who will be applying for the mortgage. This may include a spouse or another co-borrower in addition to yourself depending on your circumstances. You will also need documentation for any other outstanding assets and liabilities. Do you own another house? Have a car payment? Student loans or credit card debt? Your Starboard Financial loan officer can review any additional documentation that may be needed.
Applying for a mortgage can seem overwhelming at times, but our loan officers at Starboard Financial are here to help you get that express mortgage you need. Contact us here.