Step 1 to Home Buying
Hey there! My name is Bridgette Garrison and thanks for coming to my blog! I also have videos out on socials if you would rather listen then read. This series is all about the home purchasing process! I tend to get a lot of questions on socials and over text about how to get started to purchase a house, if you're wondering the same, you're in the right place!
The very first thing you need to do to buy a house is to talk to a Mortgage lender! That could be your personal bank, a mortgage bank or credit union! If you are not sure who to contact, but you know, a realtor that you trust and would prefer to use, ask them who their preferred lenders are!
Once you make the call, congratulations, you have officially started the groundwork to buy a home!
What will a lender ask for?
Depending on your type of income, they could ask for a multitude of things. But if you are a typical W-2 working, employee typically asked for the following:
- Two years worth of W-2
- 2 to 3 months worth of paystub
- 2 to 3 months worth of bank statements
- Your drivers license and Social Security number
- Employer contact information to verify employment
- If you receive any child support or alimony checks proof that those come regularly and will be coming for on average two years in the future. If you count this or qualify this as part of your income. It just has to be regular!
As soon as you and your Lender are done with all of the nitty-gritty paperwork, you’ll get a budget that you are qualified for! How exciting! Once you and your lender agree on terms, and a letter is made you or your lender will send that over to your preferred realtor, and then you can start looking!
You have officially completed step one!