Before you start shopping for your dream home, it's a
good idea to make some preparations.
Build your green file
A green file contains all your important financial documents.
You'll need it to secure financing for your home. The typical
green file should contain:
Financial statements
Bank accounts
Investments
Credit card
Auto loans
Recent pay stubs
Tax returns for two years
Check your credit rating
Your credit score will have a huge impact on what type of home you
can buy, and at what price. Anything above 620 is considered good. A
premium interest rate may mean a lower interest rate on your
mortgage. Check your credit rating with a credit reporting agency
such as:
Equifax
Be Careful With Your Finances
Now is not a good time to make sudden career changes or large
purchases. You want to approach home buying from a position of
financial stability.
For more information and for any additional
questions, please feel free to contact me at any time.
