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You can shop rates...You must only allow your credit report to be pulled from any Lender not one day After the 14 days, if anyone pulls your credit report after the 14th day, it will pull down your score. So, before you get started get the following information together and take it with you to your Lender. | |
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* Make a list of your debts - such as - Revolving Charge Cards, Auto Loans,
Mortgage or Rent Payments (monthly minimum amount due).
* Take 2 years of your Complete Tax Prepared documents.
* Take at least 2 full months worth of your current pay stubs.
* Take at least 3 months of Bank Statements, Retirements and/or Stock Statements.
* If you have any credit issues, they will find it. Start out right tell your Lender and write a letter of explanation. It will be required to get a loan. | |
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Most loans you will be required to put down a minimum of 3.5 % down payment, plus your closing costs. Most loans require at least 20 % down payment. Please do your home work and ask questions. It for your benefit! There are a very few Lender's who do have loan programs with 100%. Your credit scores must be high enough to get those special programs. They do have restrictions please ask your Lender to see if you qualify. | Today's Economy has changed the way we do business forever! |
Don't be afraid to try. Your Lender will ask you for a fair amount of paperwork, being prepared and have your documentation ready and keep it ready and waiting. You will be asked for last minute documentation 12-24 hours prior to closing. It could be anything, such as your latest pay stubs, bank statements or even employment verification, each Lender is different and it is required to finalize your loan process to get the final approval and it's all worth it in the end! Your American Dream of owning a home! |
Your success depends on the truth! To obtain the loan you want, be honest, nobody is perfect, it's all up to you! Help us help you with your American Dream of Home Ownership! |
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