When preparing to purchase a home you will need to be preapproved for a mortgage. When getting a mortgage in Colorado you need to be pre-approved for the mortgage. Especially since the 2009 financial crisis, you will need a large list of documents before you are approved for a mortgage.
Here we go, you will need:
- Your full name and date
- Social Security number
- Phone number
- Proof of residence for at least two years
- If you’re a renter, rental history is needed
- If you’ve owned, you’ll need all mortgage, insurance and tax information for your primary residence and all other properties owned
- Employment history for two years including:
- Company name
- Addresses
- Phone number
- Job title
- An income history for at least two years including:
- Commissions received
- Bonuses
- If self-employed include:
- Two years of bonuses
- Commissions
- Self-employed income received
- All asset account balances including:
- Checking
- Savings
- Investment
- Retirement
- Debt payments and balances including:
- Credit Cards
- Mortgages
- Student Loans
- Car Loans
- Alimony
- Child Support
- any other fixed debt obligations.
Also, confirm whether you’ve had bankruptcies or foreclosures within the past seven years, whether you’re a party to any lawsuits, or you’ve co-signed on any loans. Confirm if any part of your down payment will be borrowed.
When you have these documents ready, you can begin your search for Fort Collins/Loveland, Co real estate for sale.
Applying for a mortgage
You have several options for getting pre-approved for a mortgage. Some of the conventional options are:
- Conventional Bank Mortgage
- FHA Loan
- VA Loan
- USDA Loan
The Colorado Housing and Finance Authority also has several loan options for first-time homebuyers and residents of Colorado. They include:
- CHFA FirstStep Loan
- CHFA SmartStep Loan
- CHFA Preferred Loan
- CHFA Advantage Loan
- CHFA HomeOpener Loan
- CHFA HomeAccess Loan
- CHFA SectionEight Homeownership Loan
- CHFA Down Payment Grant
- CHFA Second Mortgage Loan
- CHFA Mortgage Credit Certificate
Never has getting into a home been so easy or getting a mortgage in Colorado. If you wish to start your home search today contact Jay Seier and Jolly Homes Team at Resident Realty.
