Homeownership is high on the list of the “American Dream”. These days, it’s not generally feasible to buy a home in cash, so potential homeowners need to navigate the mortgage process. !

There are few things that mortgage seekers will need when starting the process…

S O L I D E M P L O Y M E N T H I S T O R Y

• Lenders always look at employment history.

• The longer you’ve been at your most recent job, the better - - but 2 years is the general minimum

• Additionally, the smaller the number of job changes, the more trustworthy you appear

E X C E L L E N T C R E D I T

• This is probably the most obvious requirement

• FICO Score can be between 620-640 for some loans

• A score of 720+ will get better interest rates

C A S H O N H A N D

• It will be impossible to get a mortgage if you don’t have any money do put down

• Lenders check your “cash on hand” because they need to weigh the possibility of you defaulting on your loan

A D D I T I O N A L D O C U M E N T S Y O U ’ L L N E E D D U R I N G T H E A P P L I C AT I O N P R O C E S S :

• Credit Reports (have these on hand from all three bureaus)

• Employment Records & Pay Stubs for the last two years

• Proof of Residence from the last two years

• Homeowner’s Insurance

H T T P : / / M A R K T E TA . N E T /