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Preparing to Buy  

Before you start shopping for your property, it is a good idea to make some financial preparations.  If you are making a cash payment, you can contact your bank and have them write a letter verifying that you have the necessary funds in your account.  If you need a mortgage, you will need to begin to build your green file for your lender.

Build Your Green File 

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain: 

  • Financial statements 
    • W2 forms for the past two years
    • Federal tax returns (1040s) for the last two years
  • Bank accounts 
  • Investments 
  • Credit cards 
  • Auto loans 
  • Recent pay stubs from a 30 day period
  • Copies of leases for investment properties, 401K statements, life insurance, stocks, bonds, and mutual account information

Check Your Credit Rating 

Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution so that we can determine what you can afford. The lender will research your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union. Some of the lenders that we recommend that are experienced, knowledgeable lenders in the residential, construction, and commercial and investment real estate fields are listed below.  You are welcome to use them, or contact your own!

Be Careful With Your Finances 

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.  Make sure to remain in contact with your lender about any changes that 

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