Preparing for Property Shopping

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Before you dive into the property market, it's wise to make some preparations.

Create Your Green File

A green file is essential as it holds all your crucial financial documents needed to secure financing for your property. Typically, your green file should include:

• Financial statements
• Bank account details
• Investment information
• Credit card statements
• Auto loan documentation
• Recent pay stubs
• Tax returns from the past two years
• Copies of leases for investment properties
• 401(k) statements, life insurance policies, stocks, bonds, and mutual fund account information

Review Your Credit Rating

Your credit score will significantly impact the type of property you can purchase and the price range. To determine affordability, it’s advisable to have a reputable lending institution check your credit report. Lenders will review your credit history using data from three major credit reporting agencies: Equifax, Experian, and TransUnion. We would be happy to recommend experienced and reliable lenders in residential, commercial, construction, and investment real estate.

Manage Your Finances Wisely

Now is not the ideal time to make abrupt career changes or large purchases. Approach your property acquisition with a sense of financial stability and calm.