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how do I get pre approved for buying a house. Just went through divorce and need to start over
200,000 dollar home
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Start a file to keep copy of divorce decree, income tax returns, W2s or 1099s, if any assests were held in both names, a signed quit claim and checking/savings/401k and such. A lender will need such items along with pulling your credit score to see if you qualify for a loan. The documentation can help to explain any possible hiccups. The more you know about your personal finances the better equipped you will be. The higher your scores the better the interest rate for either more house or lower payments. The lender will be paying particular attention to repayment of debt during the last 12 months and how much credit is in your name. It's not all about how much you earn, rather how much of it do you get to keep. This is where time can heal/help spotty credit.
You will need to be pre qualified for a Loan, before you star looking for a home. It will give an idea if it is convenient for you to buy a$200.000 Home or lower your budget. Please give a call I can let my Lender pre-qualified you at no cost. Rosa
Hi Joe--
The best way to start is usually by getting a good Realtor, and having a mortgage professional pull your credit. I have a great lender I work with. Let me know what I can do to help in this process. Talk to you soon...V
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