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Preparing to Buy

Before you start shopping for your property, it is a good idea to prepare.

Build Your “Green File.”

A green file contains all of your important financial documents. You will need these documents to obtain financing for the purchase. The typical green file should contain:

  • Financial statements
  • Bank accounts
  • Investments
  • Credit cards
  • Auto loans
  • Recent pay stubs
  • Tax returns for two years
  • Copies of leases for investment properties
  • 401K statements, life insurance, stocks, bonds, and mutual account information.

Check Your Credit Score.

Your credit score will have a significant impact on the loan amount and interest rate for which you are approved. The lender will pull your credit scores from the three credit reporting agencies — Equifax, Experian, and TransUnion, and typically will use the middle score.

If you need a lender recommendation, our experienced agents will provide such recommendations upon request.

Be Careful With Your Finances.

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.