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February 24, 2016

Auburn Home & Opelika Home Buyer Tips

The selling season has begun in Auburn, AL and Opelika, AL and we, at Weichert, Realtors® - Porter Properties, understand buying a home is like preparing for a long journey.

The First Step in this Process is Having your Finances in Order

Finding out how much you can afford, getting pre-approved before you begin looking at Opleika or Auburn homes, calculating your debt-to income ratio and knowing your credit score will give you and your REALTOR® a great head start in finding the property that fits your needs.

Once your loan eligibility is established it is vitally important for you to be transparent and share every bit of financial information you can with your lender. We are happy to recommend a mortgage lender to you based on your criteria needed to be eligible for a loan, just ask your REALTOR® for assistance.

Here are some tips to help the Auburn home buying or Opelika home buying process run smoothly: 

Do provide the following documents at time of application to your lender:

1)      Latest W2 Form

2)      Most recent paystubs (covering 30-60 days at time of application)

3)      Most recent bank statements (covering last 30 – 60 days at time of application)

4)      Copy of driver’s license

5)      Insurance agent’s contact information (to set up homeowner’s insurance)

6)      If self-employed: 2 years of complete personal and business tax returns including K-1s and all schedules; may need P & L’s as well as 1099s if applicable

Don’t do the following before the closing of your new Auburn Home or Opelika Home:

1)      DO NOT quit your job during the purchasing process

2)      DO NOT transfer jobs

3)      DO NOT buy a “big ticket” item such as a car, boat, new furniture during the process

4)      DO NOT make any “hard to identify” deposits into your account

To find out more information about the complete buying process from contract to closing please click here. Need a REALTOR®? Click here to meet our experienced real estate agents ready to assist you with all of your buying needs in Auburn, AL or Opelika, AL.

Wanting to search local Auburn homes for sale and Opelika homes for sale on-the-go?

Go to your play or app store to download the ONLY local real estate app in Lee County to find ALL of Lee County's listings at your fingertips. Search Weichert Realtors Porter Properties in your app or play store TODAY!