Real Estate News -- You Can Use
DeLain Climmons
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Real Estate News — You Can Use
Information to assist you in buying or selling real estate

What you need to get pre-qualified to buy

Step 1:  Get Prequalified

  1. Have you pulled your credit report to verify there are no discrepancies, collections, judgments or disputes?
  2. Do you have at least 12 months of credit history with a creditor that reports to at least one of the 3 credit bureaus?
  3. Do you have judgments or collections on your credit report that need to be paid off or satisfied?
  4. Are you disputing any derogatory credit history or a debt reporting that is not yours on your credit report?
  5. Do you have student loan debt that is in deferment for 12 months or longer?
  6. Have you determined where your down payment is coming from and can it be documented?
  7. Have you had consistent employment for 24 consecutive months and can it be verified?
  8. Are the deposits on your bank statements over $200.00 sourced? If not can they be proven by additional documentation?
  9. Do you have any credit or new debts not reporting on your credit report?
  10. Do you pay child support or alimony? If so, do you have the documentation to verify the amount?
  11. Have you filed bankruptcy within the last 7 years? If so, has it been discharged? Do you have the documentation to prove it?
  12. Have you been foreclosed on within the last 7 years?

 

 

***If you are applying with a cosigner or co-borrower for a mortgage, all of the above questions will apply to them as well.

 

 

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DeLain Climmons

Associate Broker

delainclimmons@gmail.com

770-284-8821770-284-8821 main

Climmons Group Real Estate

P.O. Box 1983 Powder Springs, GA 30127