Your pathway to purchasing a home begins with getting your pre-approval for a mortgage loan. Doing this step first insures that your know that you are looking in a price range that is affordable for your circumstances.
When applying, the mortgage company will first require some documentation proving your financial status. Typically, that includes the last 30 days of your pay stubs, w-2's and tax returns from the last two years, and the last two months of your bank statement to verify any necessary funds are available.
It's important that during this process you are as upfront as possible regarding any issues you think you may have so that the loan officer can make sure they are factored into your qualification. This would include things like any bankruptcies, foreclosures, student loans, or child support. With this knowledge, the loan officer can create a loan that will fit your circumstances.
Finally, as you approach closing, you'll be contacted by your lender to provide any last minute verification's or explanations to help the underwriter dot the i's and cross the t's for the final approval.
With that, you're ready to close and enjoy your new home!
To search for homes, visit: http://homesearch.toledoareahomes.com
Kelley Knitz has been a RE/MAX agent for over 26 years and is in the RE/MAX Hall of Fame and is a long time member of the Toledo Board of Realtors Million Dollar Club.