Home > Important for First Time Buyers
The First Step:
The first step is addressing the question of financing and, unless you're a lot luckier than the rest of us, you'll need to get some sort of loan. The following is a list of information you will need to begin the process. This is a starting point, and represents only the basic things you should consider before anything else. For more in-depth info, or if you have any specific questions, please call our office at (608) 246-5568.
Property information
- Purchase price of the house you are buying, or estimated price
- Amount you would like to borrow
- Monthly homeowner's dues if applicable
- Down payment amount and earnest money
- Type of property (single family, condo, land, etc.)
- Address of the property (to be determined if not yet known)
Personal Information
- Legal name of borrower and any co-borrowers
- Social Security number(s)
- Years completed in school
- Marital status
- Address of current primary residence (if at current residence less than two years, provide previous address)
- Number of dependents and birth date for each dependent
- Employment information (employer, job title, employer's address, and tenure for the past two years)
Income, Asset, & Liability Information
- All sources and amounts of monthly income (borrower and co-borrowers if any): salary, overtime, bonuses, commission, dividends, interest, retirement, and any other source of income you'd like for us to consider for repayment of your loan
- Current expenses - housing, alimony, child support and other balances owed
- Real estate assets owned by any borrower if any: property address, market value, outstanding liens, rental income, and mortgage payments
- Other assets, bank and financial institution accounts: bank/institution names, account types, and balances; value of bonds, stocks, life insurance policies, and retirement funds.
Once you've gathered all the above information, you're ready to begin your loan application process.
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