The Truth About IBuyer Companies that offer to buy your home for cash, such as Open Door, Orchard, Zillow, Redfin, Offerpad, and many others. 1. These Companies Are Investors looking to make a
Preparing To Purchase A Home
Dated: June 24 2020
When Preparing to Purchase a Home the First Step is getting your finances and credit in order. Mortgage Lenders Review you Credit History, Employment Status, Income and Debt to qualify you for a mortgage loan.
Credit Scores - 620 or Higher FICO scores will ensure you get a good mortgage rate
Income- documented income (check stubs, W-2s, 1099s, tax returns will be used to verify your income) If you own a side business or self employed the amount of write-offs you take can affect your qualifying income
The Amount Debt you have can reduce your qualifying Income: Loans, Credit Card Debt, Owed IRS Taxes or Repayment Plans, Student Loans, & Child Support. .
I purchased my first home as a single mother in my early 20's, so I know the fears, the anxiety and the financial responsibility that comes with such a large purchase. But I also know the pride, joy a....