You want to put in an offer, but first…….

When you are starting to get the home purchase bug, and who isn’t these days, it is always good to do first things first.

As much as we love looking at homes online (approx. 94% of home buyers start their search online) because the beautiful pictures seem to lure us in, the most important thing to start off with is talking with your mortgage lender about what type of home you want to buy, what you want to spend on your new home, and of course how much home you can afford. Always important in our scorching hot Bellingham Washington (lynden,ferndale,everson,blaine too) housing market!

If you are really looking to go forward and actually look at homes in person, hold on. The most important aspect of your new search is to find out what your mortgage lender will want from you to get pre-qualified for a loan. Here is a short list of documents to bring with you.

• W-2s for the previous two years
• Paycheck stubs for the last 30 days (most current)
• Employment history for the last two years-be sure to explain any gaps in employment
• Checking and savings account statements for last two months
• Most recent two months or quarterly statement for 401(k)s, stocks, and other investments, including terms and conditions for withdrawal.
• Signed tax returns from the last two years, all pages/schedules
• Residency history over the last two years, with name, phone number, address and account number of landlord or mortgage company
• Photo identification (valid drivers license or passport) for applicant and co-applicant

This of course is just a basic list of documents that almost everyone will need to get pre-qualified for a loan. There is more documentation needed for the self-employed, or VA loan applications as well. I will address those documents in a future blog.

Remember, your home search and purchase will go so much smoother if you work with your lender and your Real Estate agent in getting all your ducks in a row.

Good luck and remember, I am always available to help with any questions you have so don’t hesitate to contact me!