It's no secret that buying a home can be a stressful experience; however, it can also be exciting, if you have the right help. To help you get prepared, here are some California mortgage tips to get you started.
First, you need to get your paperwork organized. Any loan officer is going to require several different documents from you, so having this information ready will save you time and help you to get your mortgage approved faster. You will need a completed loan application, your most recent W-2's and IRS forms, pay stubs and copies of your bank and brokerage statements.
Secondly, be prepared to present any relevant information on the property you are interested in buying, such as property tax bills and insurance declarations. This will give the lender a better idea of its true value.
Finally, ensure that your credit record has no blemishes and that your credit score is as high as possible. The higher your score, the better chance you have of negotiating a favorable interest rate and saving money.
