First Time Home Buyers Guide From Application to Close

I am going to give you a first time home buyers guide so you can understand the total process. You have determined that you qualify and how much home you can afford so what is the process?

First, being a first time home buyer it is recommended that you obtain the services of a good Realtor in your area. You can go on line and find an agent that specializes in acting as a buyers agent. They will handle all the contracts and negotiations with the seller. Today there are a lot of foreclosed properties on the market and dealing with a bank is best left to a trained individual.

There are also tax advantages from both the state and federal government. Check with a tax attorney for the most up to date information.

The Loan Application

Documents you will need.

1. Last 2 years of your W2's
2. Last 30 days pay stubs
3. Last 3 Months on bank statements.
4. 2 Years Tax Returns if self employed.

There will be other documents required, but this is the minimum to take to the loan application. You can make copies of these so you do not need to take originals. Make sure they are good copies.

Go over the loan application and make sure it is correct. Such things as spelling of name, Social Security number, date of birth, must be correct. Check them on the application. In giving you this first time home buyer’s guide, I want you to remember it is a guide not the law. So expect changes. Please ask me your questions, I am here to help. There are no dumb questions, so ask. The guidelines are changing monthly so check back often.



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