If you have made the decision to purchase a home in the local area, Tacoma mortgage rates aren’t the only thing you will need to consider as you begin the search for your perfect home and narrow down your home financing options.
Whether you are on your third mortgage or planning to secure your first mortgage as a first time home buyer, the process can seem intimidating, especially if you are not armed with the information you need to make your decisions as easy as possible.
At Primary Residential Mortgage, we want to make sure that every one of our clients feels comfortable and educated before making any decisions that can affect their financial future.
The mortgage process doesn’t begin at closing.
The mortgage process begins when you first decide that you want to purchase a new home.
As soon as you make this decision, you should be reaching out to a trusted mortgage expert who can help you get pre-approved for your mortgage.
Once you are pre-approved and you have a better idea of what price range you can afford, it will be time to search for your dream home. Most mortgage experts have trusted colleagues in the real estate business that can help you through this process as well.
It is not until after you have been pre-approved for your mortgage and found the home of your dreams that you will move forward with the closing process.
Every process is different, depending on what type of home loan you have chosen, what Tacoma mortgage rates you qualify for, and the price of the home you are purchasing. There are many factors that can affect your mortgage and all of these should be discussed with you before closing so you are well aware of the details involved with your loan.
In an effort to help you through the process of obtaining both your pre-approval and your mortgage, we have included a mortgage checklist in this post to be used as a general guide. Some of the most common information you will need is:
- Personal Identification for All Parties
- Driver’s License, Social Security Card
- Proof of Employment and Income
- Pay Stubs, W-2
- Documentation of Income Received from Sources Other than Employment
- Documentation of All Current Debts
- Credit Card Statements, Bills
- Current Account Balances
- Bank Statements
Depending on your financial situation, you may be required to provide more information than what is listed above. Other documentation that may be required could include residency information, employment history, and written authorization to run your credit.
If you are ready to get started on your mortgage process today, give us a call to set up your consultation with a member of our Primary Residential Mortgage team today at (253) 448-8296!