Buy: Demystifying the Loan

Guest Author: Shayna Muniz

Buying your first home can be an exciting time…but it can also be a little stressful since you might not know where start!  Getting pre-qualified is the first step you should take when considering purchasing a home.  When starting the pre-qualification process, remember that we will need to get a full picture of your financial situation.  To know exactly what your income is and how much debt you have, you will need to provide the following documents: 
-1 month paystubs
-2 years tax returns
-2 months asset statements (this could include bank statements, retirement accounts or investment accounts)
-any additional documents for other types of income
One of the first things we will do is a credit check – this will only be done once and will give us an idea as to where your stand with your monthly debt, credit score and credit history.  If you do not qualify immediately, we can always work with you to in our Credit Counseling stage to help repair your credit and get you to where you need to be in order to qualify.
 
After we review your documents and credit history, we will then be able to determine if you qualify and for how much.  A pre-approval letter will be issued to you and then you’re ready to go house shopping!

Shayna Muniz

Home Mortgage Consultant
NMLSR ID 404765

Wells Fargo Home Mortgage | 3104 N. Rainbow Blvd. | Las Vegas, NV 89108
MAC S3735-011
Tel 702-207-1757 | Cell 805-610-2797 | eFax 866-944-8183

shayna.y.muniz@wellsfargo.com | http//www.wfhm.com/shayna-muniz

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