Looking to Purchase a Home? Here Are a Few Tips to Help Your Loan Process Go Quickly and Smoothly

Here at Biggs Real Estate Professionals we are a full service brokerage. We have many experienced loan officers ready to assist you in getting your pre-approval. Once approved, you can go SHOPPING for your new home with one of our expert Realtors!

Our loan officers work with a variety of wholesale lenders which offer our clients competitive rates. Here are a few tips from one of our major lenders, United Wholesale Mortgage, to make your loan process go smoother and get you on your way to your new home!

1. Make Sure Your Credit is in Good Shape

a. Check your credit score

• Excellent Credit: 750+
• Good Credit: 700-749
• Fair Credit: 650-699
• Poor Credit: 600-649

b. Try to get your credit card balances below 40% of the limit provided

c. It’s best to have at least 3 open and active account listed on your credit report

2. If you’re renting, pay by check

a. Having documented proof of your last 12 months of payments is often required by the lender

3. Obtain proof of employment for the past 2-years

a. W2s and tax returns

b. Paystubs covering 30 days

c. Be prepared to explain any gaps in employment

4. Avoid large deposits or withdrawals from your bank account

5. Determine a down payment amount based on your available funds

6. Obtain a pre-approval letter from an Independent Mortgage Professional or a Loan Officer at Biggs Real Estate Professionals

7. Research a local real estate agent

8. Once you have been pre-approved, you can search for active properties for FREE on our search engine here.