Unless you are considering paying cash for the residential property you are looking to purchase, a home loan originator is likely going to need to be involved. Sometimes people are apprehensive about talking to a home loan lender when they are ready to begin looking for a home. In reality it is always the best place to start. Many REALTORS request that a buyer be prequalified before showing them homes. Speaking with a lender first allows the buyer to understand what price range they need to be looking in, and will help make the experience of home shopping a much more positive one.
In Murray, KY, there are many good local lending options for a buyer to choose from. Team Spann – Elite Realty has put together a list of some of the local lenders, with a link to their website and contact information, for your convenience.
A few of the items a lender may be asking for on a residential loan include:
- Most recent, consecutive, pay stubs covering at least a 30 day period.
- The last two years W-2s/1099s
- The last two months bank statements, all pages
- Any other asset statements, all pages
- Tax returns, Federal only
When you are ready to begin your home search, check with a lender first, then contact Team Spann for help finding the perfect home for your needs.