Financing Options

• Funding Your Home Purchase 
• How Much Money Do You Actually Need to Buy a House?
• Mortgage Rates on the Rise: Should You Wait to Buy a Home in South Florida?

Start a Green File

Ready to streamline your home financing process? Start a ‘Green File’ containing all your essential financial documents. Regardless of the loan type, lenders will need detailed information about you. Be sure to make copies of financial statements, bank accounts, investments, credit cards, auto loans, recent pay stubs, and two years of tax returns.

Check Your Credit Rating

Your credit score is crucial when securing a loan. Scores range from 400 to 800, with 620+ considered “good” and 680+ deemed “premium,” potentially earning you a lower interest rate. Contact the three major credit reporting agencies to determine your credit rating. If needed, ask your lender how to improve your score. Treat your credit like gold!

Your credit score is crucial when securing a loan. Scores range from 400 to 800, with 620+ considered “good” and 680+ deemed “premium,” potentially earning you a lower interest rate. Contact the three major credit reporting agencies to determine your credit rating. If needed, ask your lender how to improve your score. Treat your credit like gold!

Toe the Line

Lenders value stability. Now is not the time to change careers, move money around, or make large purchases. If considering significant changes, consult your lender first. For instance, a $500 monthly debt payment (like a credit card or auto loan) could reduce your home affordability by about $83,000 (based on a 30-year mortgage at 6% interest).