Before you start shopping for your home, you must make some financial preparations.
Build Your LiveGive850 Real Estate Team Purchasing Packet.
This packet contains all your important financial documents from the last two years. You will need it to secure financing for your property if you’re not paying cash for your home.
The typical packet should contain:
- Financial statements
- Bank account statements
- Investment statements
- Credit card statements
- Any debt/loan statements, including autos and student loans
- Tax returns for at least the past two years
- Recent pay stubs and documentation for any income-producing activities
- Copies of leases for investment properties
- 401K statements, K-1 schedules, life insurance, cryptocurrencies, stocks, bonds, and mutual account information
Check Your Credit Rating
Your credit score will have a significant impact on what home you can buy and at what price. We advise all our clients to check their credit rating and confirm their down payment with an experienced lender amount so we can determine what you can afford.
*You must get a letter from your lender stating you are prequalified to purchase a home and up to a certain amount. Our team cannot show homes—and most sellers’ agents will not permit potential buyers to view homes—without confirmation of this letter. And, there is a difference between being prequalified versus obtaining pre-approval for a loan. We’re ready to advise you and assist you during this process from beginning to end and no matter how long it takes!
The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian, and Trans Union. LiveGive850 will be happy to recommend experienced, knowledgeable lenders and have access to over 4,000 loan products, as well as a global network of hedge funds and investors. It may be possible for your lender to purchase the home on your behalf for CASH and make your offer more competitive in today’s marketplace. LiveGive850 truly has an inside advantage!
Be Careful with Your Finances
Now is not a good time to make sudden career changes, substantial cash withdrawals, or large purchases. You want to approach your home purchase from a position of financial stability.