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Preparing to Buy


property purchase

What do I need to do to have everything ready?

Getting ready to purchase your first property can be intimidating. Credit scores, down payments, and mortgages are all bombarding in your subconscious. Here is a guide to help you get ready to make one of the biggest buys of your life.


  1.  Determine how much you can afford.
  2. Prepare your finances for the mortgage process.
    – Check your credit.
    – Save some cash for a down payment and other expenses
    – Get your documentation in order.
  3.  Go shopping for a mortgage.

Before you start shopping for your property, it is a good idea to make some preparations.

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
  • Bank accounts
  • Investments
  • Credit cards
  • Auto loans
  • Recent pay stubs
  • Tax returns for two years
  • 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. We will be happy to recommend experienced, knowledgeable lenders in the residential, construction, and commercial and investment real estate fields.

You can use creditkarma.com to check your credit score for free. Just click on the highlighted word and it will automatically transfer you to the website!

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.

Lauren Hershey works with an amazing Morgage Lender that can get you preapproved the same day. Call or text lauren for more information :

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