How Do I Get Ready to Buy an Orange County Home?
In today's market, it's important to be ready to make an offer when you find the right Orange County home. What does this mean?
The first thing you need is a pre-approval letter from a lender.
To pre-approve you, your lender will need the following things from you:
- Paystubs - for the last 30 days
- Taxes - for the last 2 years, including all schedules
- W-2s - for the last 2 years
- Bank statements - for the last 2 months
- Asset statements - also for the last 2 months - (401K, stocks, bonds, etc.)
There will be more information along the way, but unless you are self-employed, this will be enough information, along with your credit report, to get your lender started on the pre-approval process.
How to get you OC home offer accepted
Once you have your pre-appoval letter in hand, you need a few more items to make your offer as strong as possible.
- Proof of funds (bank statements to prove that you have the down payment and closing costs)
- Copy of your credit scores - to show you have sufficient credit to obtain a loan
- DU - Desktop Underwriting (if one is available) - this shows that your file has been through some underwriting and gives more validity to your pre-approval letter
With these 4 items in hand, you will be able to present a strong offer to the sellers and have much better likelihood of having your offer accepted.
Do you need a referral to a mortgage lender?
Do you have questions about being ready to buy a home, please contact me at 714.319.9751.
Originally published at Buying an Orange County Home
***************************************************************************
About the author: Christine Donovan is a California Residential Real Estate Broker with experience in assisting clients buy and sell residential real estate.
Are you upside down in your home? Is it worth less than you owe? Are you concerned about making your mortgage payment? For more information see Options to Foreclosures, understanding short sales or contact me at christine@donovanblatt.com to discuss your options.
If you want to buy a home or to list your property for sale, please click Newport Beach homes, Costa Mesa homes, Huntington Beach homes or Orange County homes. Click the link if you are interested in buying a home at a courthouse auction sale.
Contact me at christine@donovanblatt.com or 714-319-9751 to learn about her system which will make your buying and selling experience easier.
Disclaimer: All information in this blog is deemed reliable but is subject to change at any time and is not guaranteed to be accurate nor are there any warantees either express or implied. This blog is not intended to offer any legal, tax or other advice.
Federal Government Disclaimer (MARS)
- You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject or accept the offer, you do not have to pay us.
- Christine Donovan, DonovanBlatt and Donovan Group are not associated with the government, and our service is not approved by the government or your lender; and
- Even if you accept this offer and use our service, your lender may not agree to change your loan.
Click Orange County homes for sale to view all OC homes for sale.
