Sky Mesa, Meridian Some homesites nestle to a hillside, so open windows to private back yards creates stunning interiors. A quick 10 minute drive to The Village shopping center,
How To Make Mortgage Approval Easier
- Collect paperwork and documents. Buyers should have paycheck stubs, W-2 forms, tax returns, and bank and investment statements for the last two years.
- Check credit reports. Buyers should know their current credit score before applying for a loan. Credit reporting agencies are required to give one free report annually.
- Keep tabs on spending habits. For example, maxing out credit cards or falling behind on other loan payments will likely create issues when applying for a mortgage. Buyers should avoid going on a spending spree before and after applying for a loan to avoid any hang-ups.
- Explore options. ICBA encourages buyers to work with community bankers to figure out how much to borrow and which mortgage product is right for them. They should explore mortgage options, including rate adjustments, fees, and other loan features, to avoid surprises at closing.
- Know the rates. “Learn what current mortgage rates are,” ICBA notes. “Your community banker can help you understand how that translates into monthly mortgage payments.”
- Look for special programs. Buyers may want to check with their state, city, and county government agencies for special first-time home buyer loan or grant programs available to assist with down payments and closing costs.
Phil Mount is an agent at Front Street Brokers in Boise, Idaho. Phil became a licensed REALTOR in August 2009 after a 25 year career as a technology marketing professional. In his first year as an a....
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