We understand exactly how scary the idea of becoming a homeowner is. But just take a deep breath and take one step at a time. A big part of the home buying process is securing the right financing and that largely hinges on your initial meeting with the mortgage lender. At Rocky Mountain Mortgage Lenders, we want to make sure home buyers find the mortgage that best fits their needs. Below, we offer some great tips to ensure your mortgage lender meeting is a success, getting you one step closer to home ownership!
Make a Document Checklist
At Rocky Mountain Mortgage Lenders, we’re here to help. However, we can’t help you without the right documents.
Before you meet with an El Paso mortgage lender, it is essential to have a list of documents prepared. Having the right documents doesn’t just expedite the process. Your mortgage lender won’t be able to get you the information you need without them.
Before your appointment, your mortgage lender will tell you what is needed. Still, a general list of documents to prepare are:
- Proof of identity
- Proof of income/debt/assets/taxes
- Property details of the home you want to buy
- Two months’ worth of pay slips and statements
Be sure to make a checklist, and before your appointment, confirm every box is ticked.
If you are unsure what documents to bring, call Rocky Mountain at (915) 593-3111. We would be happy to help.
Take a Close Look at Your Finances
Before your meeting, you have to know where you stand financially. We know it can be scary to look at your bank accounts, credit cards, and credit score, but it’s a must. Why?
Checking your finances will give you an idea of what you can afford. Knowing how much you can pay will help you prepare for the expense and even choose the price range of your new home accordingly. Getting ready in advance will also help you determine whether you need assistance from a down payment assistance program, which aids homeowners with their down payment. You can also check out our mortgage loan calculator here.
Fix Your Credit
Most people who come to us in search of a mortgage lender understand the importance of credit, but we still cannot stress it enough. If your credit score is not where it should be, it can be the difference between you getting the keys to your new home or not.
But don’t let this scare you! You would be surprised how attainable a new home loan is, but your credit score can be a real hindrance.
Fortunately, you don’t need flawless credit to get approved for a home loan, but obviously, the higher the score, the better. There are many ways to check your credit score, either through a website or an app like Credit Karma. Ensure that there are no marks on your credit, and if there are, call the proper companies to see if you can have them rectified.
Don’t Worry. Just Give our Mortgage Company a Call!
All in all, becoming a homeowner is completely achievable, and we’re here to make it a reality for you. If you’re ready to walk into your dream home, apply here or call (915) 513-3111 today, and our El Paso mortgage lenders can do what we do best.