🎶 On the first day of Christmas my realtor gave to me, a ring with my new house key🎶
Wouldn’t that be the perfect way to start the new year? You’ve been thinking about purchasing a new home but what do you do to make the mortgage process go as smoothly as possible? There are some definite steps to take to ensure that all goes as well as possible.
THE DONOFRIO TEAM is here to help.
Checking and improving your credit score is step one. Reduce dept as much as possible by paying down credit cards balances and paying bills on time. Also avoid applying for new credit cards or loans. Hard inquiries can temporarily lower your score.
Gather documents such as W-2 forms, pay stubs and tax returns, bank statements (2-3 months) and proof of other assets. Document income, especially if you’re self employed. Calculate budget. Use a mortgage calculator to see what you can afford.
Avoid making unexplained large cash deposits or changing jobs or banking. Lenders want to see stability in your employment and accounts.
Get pre-approved. This shows sellers you’re interested. Shop around to find the best interest rates and terms.
THE DONOFRIO TEAM is always available to address any questions or concerns. Call us at 1 (631) 793-2255
