What Documents Do You Need To Buy Your First Home?

When buying a home or refinancing you always are required to provide documentations about your financial life.
Since the housing collapse, new rules and regulations require mortgage lenders to asses every buyer by their actual worth. There are no more stated documentation loans where you just had to fill out an application and not provide any actual documentations.Those days are gone and hopefully will never come back.
It might sound impossible to get all the documentations that are required but it really is not that hard. Continue reading →

Now that you got your credit report and went thru it with a magnifying glass you also need your credit score. Hopping for a good credit score here.
You can let the lender tell you this after they run your credit report or you can find out yourself at Myfico.com.

What is a good FICO Credit Score for a mortgage?

I’m not going to go into details on this section but to qualify for the best interest rate a good credit score is considered to be 740 or above. That should be your goal. Continue reading →

My How to buy your first home as a first time home buyer guide

So, you are thinking about buying your first home. Where do you start as a first time home buyer?
As a first time home buyer I was looking to buy my first home, and as you are right now, I did a lot of research for advice and tips for how to buy a house without an agent, how to get approved for mortgage credit and buy my first home quickly. Unfortunately I was not as ready as I thought when I decided to plunge in. The home deal got complicated, requirements and paperwork was not ready and this created a lot of work, headache and anxiety. Continue reading →