Service You Can Trust From Someone You Can Depend On 
Vickie Slade Professional Realtor®, MCNE, SRES®, CHRE
Colorado Landmark, Realtors
2350 Broadway Street
Boulder, CO 80304
Phone: 303-443-3377 Mobile: 303-589-2663 Email Vickie

Preparing to Buy a Home

          

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 proeprty.  The typical green file should contain.

  • Financial Statements
  • Bank Account Statements
  • Investment Statements
  • Cread Card Statements
  • Auto Loan Account Numbers, Balances and Contact Information
  • Recent Pay Stubs
  • Tax Returns for The Past 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 the recommended to check your credit rating with an experienced lender.  (You can check my list of trusted service professionals for a recommended lender.) The lender will research 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 three credit reporting agencies: Equifix, Experian and Trans Union.  We will be happy to recommend experienced, knowledgeable lenders in the residential, construction, and commercial and investment real estate fields.

Be Careful With Your Finances. Now is not a good time to make sudden career changes or to make large purchases.  You want to approach your property purchase from a positition of financial stability.

Down Payment Help.  If you are planning to use an organization for down payment assistance such as CHFFA, you will need to complete their training course before you can apply.  Plan ahead and get your course work completed so you are ready to go.

Do Your Community/Neighborhood Research.  If you don't already know where you want to purchase, plan a few weekend days to drive communities and neighborhoods to determine your preferences.  If your children are of school age, research the schools in the neighborhoods you are considering.  www.GreatSchools.org is a good resource to see how the schools are rated.