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Financing Options

Start A Green File

A Green File should contain all your important financial documents. Regardless of the loan type, lenders will need information about you. Make copies of financial statements; bank accounts, investments, credit cards, auto loans, recent pay stubs and two years’ tax returns.

Check Your Credit Rating

Credit scores fall into ranges and are ranked “Very Poor” to “Exceptional”.  

 

Below you will find the contact information for the 3 major credit reporting agencies to help you determine your credit rating. Ask your lender how to improve your credit score if you need to. Going forward, treat your credit like gold.

Equifax

http://www.equifax.com

(888) 548-7878

Experian

http://www.experian.com

(888) 397-3742

Trans Union

http://www.transunion.com

(800) 916-8800


Savings & Debt

If you are buying real estate, try to accumulate funds towards your down payment, closing costs (appraisal, miscellaneous fees, escrow, title insurance, etc.) and expenses such as inspections. Furthermore, try to pay down existing revolving and high interest rate debt like credit cards.

Toe The Line

Now is not a good time to change careers, move your money around, or buy big ticket items. Lenders like stability. So, if you are considering any major changes, it pays to meet with a lender and ask them how to proceed before you make any changes!

 

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