User Name Password
Register



Joe Engbrock

Phone
(830) 305-4866
Fax
(830) 632-3068
E-Mail Us
Keller Williams Heritage - Seguin
801 N. 123 Bypass
SEGUIN, TX 78155

Contact Info.
Joe Engbrock


Phone
(830) 305-4866
Fax
(830) 632-3068

E-Mail Me


Keller Williams Heritage - Seguin

801 N. 123 Bypass
SEGUIN, TX 78155

Articles & Links
Refinancing
•••
Leveraging Your Money
•••
Length of Your Mortgage
•••
Saving for the Down Payment
•••
Closing Costs
•••
How Mortgage Loans Work
•••
When To Pay Points
•••
Adjustable-Rate Mortgages
•••
How Much Can You Afford?
•••
Getting Your Finances in Order
•••
Your Credit History
•••
Mortgage Glossary
•••
Free CMA Request
•••
Free Moving Quote
•••



FIRST TIME HOME BUYERS SPECIALIST *Voted # 1 Real Estate Agent in Guadalupe County 2008 - Seguin Gazette Readers Poll*

Getting Your Finances in Order

A crucial step in starting your search for a new home is having a clear idea of your financial situation. By getting a handle on your income, expenses and debts, you'll have a much better idea of what you can afford and how much you'll need to borrow.

For lenders to verify this information, though, they're going to need to look at your financial records. It is also important to remember that you should include records for each person who will be an owner of the house. So before you even visit the bank, make sure you'll be able to provide copies of these important documents:

  • Paycheck Stubs
    Remember that lenders are most interested in your average income. Not only will they want to see this month's paycheck, but also how much you've been making for the past two years. Steady employment is also more attractive to lenders, so if you've been hopping from job to job, be prepared to discuss the reasons why.

  • Bank Statements
    In order to qualify you for a loan, most lenders will also ask you for copies of your bank statements. Ideally, they'd like to see a steady history of savings--or at the very least, that you're not bouncing checks every month.

  • Tax Records
    It's always a good idea to save copies of your tax returns, especially if you're self-employed. If you own your own business, it's important to note that lenders generally consider your income as the amount you paid taxes on--not the gross income of the business.

  • Dividends &Β Investments
    Lenders will usually consider long-term investment dividends, as well as your investment portfolio, when evaluating your income.

  • Alimony/Child Support
    If you receive steady payments as part of a divorce settlement or for child support, you can also include this as part of your gross income. Just remember that lenders will want to see a copy of your divorce/court settlement verifying the amount of the payments.

  • Credit Report
    Virtually every lender will want to see a copy of your credit report as part of the loan application process. The report lists all of your long-term debts, as well as your payment history. In general, they will require you to pay for the credit report (approximately $50), but if you have a recent copy, they may accept that instead.

 
Preferred Partners
Check out the best in local home-related services.
Automated E-mail Listings Service
Sign up to automatically receive new listings today!
Home Advice
Get the answers on home selling and buying.
Real Estate News
Find out what's happening in real estate.

Main PageSearch for HomesFirst Time Home Buyer SpecialsSearch Comal CountySearch Guadalupe CountySearch SeguinSearch McQueeneySearch New BraunfelsMortgage CenterPre-Qualify Now!School InformationFree ReportsFree Home ValuationContact Me
Joe Engbrock

Phone
(830) 305-4866
Fax
(830) 632-3068
Keller Williams Heritage - Seguin
801 N. 123 Bypass
SEGUIN, TX 78155




AgentAdvantage.comWebsite Design and hosting by AgentAdvantage, official agent and broker website provider of Homes.com
Copyright ©2000-2014 Homes.com, Inc. All Rights Reserved. Privacy Policy. Full Terms and Conditions.

Equal Housing Opportunity

Member Login