Local Buying Tips

What You Need to Know About The


What You’ll Need to Qualify in Today’s Market:

Downpayment:  Generally between 5-20% of the purchase price (40% of buyers are putting down less than 10% – With many putting down as little as 3%)

Income Verification, Credit History & Asset Documentation

Impartial Third-Party Appraisal:  Your lender needs this to verify the value of the house you want to purchase

Stable Income          ►Good Credit History

You will interact with various professionals during the home buying process, all of whom are valuable resources & perform necessary roles.

Steps to Take:

ONE.  Find out your current credit history & score:  You don't want to start out with any surprises. 

TWO.  Start gathering all of your documentation:  Income Verification (W-2 forms, tax returns, emloyment paystubs), Credit History & Assets (such as bank statements to verify your savings)

THREE.  Contact a professional:  A Lender to consult with to review your income, expenses & financial goals to determine the type and amount of mortgage you qualify for.  A Realtor to consult with about the entire home buying process, from start to finish.

FOUR.  Talk to your lender about applying for a mortgage & getting the pre-approval letter:  This letter provides an estimate of what you might be able to borrow (profided your financial status doesn’t change) & demonstrates to home sellers that you are a serious buyer.

FIVE.  START SHOPPING:  Your Realtor will help locate your dream home!


Do your research, reach out to the professionals, stick to your budget & be sure you are ready to take on the financial responsiblities of being a Home Owner.