Preparing to Buy

Whether this is your first purchase or you are an experienced buyer, it is important to prepare your finances before starting to shop for your property.

Create a file that contains all of your important financial documents. You will need it to secure financing for your property. The typical 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.

Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution so that your lender can determine what you can afford. If you need advice on repairing your credit and would like a thorough credit review, you’re in luck! One of the agents at Flat Fee Redefined is also a Credit Repair Specialist. To learn more, visit HOM Credit Solutions Website. Your lender will research your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union. We will be happy to recommend experienced, knowledgeable lenders in the residential, construction, and commercial and investment real estate fields.

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.