Preparing to Buy

Before you begin searching for your property, a little preparation goes a long way in making the process smoother and setting you up for success.

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Build Your “Green File”

A green file is a collection of your most important financial documents — everything a lender will want to review when securing financing. Having these ready in advance can save valuable time. Typical items include:

• Financial statements

• Bank account records

• Investment details

• Credit card and auto loan information

• Recent pay stubs

• Tax returns for the past two years

• Copies of leases for investment properties

• Retirement account statements (401k, IRA, etc.)

• Life insurance, stocks, bonds, and mutual fund records

• Know Your Credit Standing

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Your credit score plays a major role in determining both the type of property you can purchase and the terms of your financing. That’s why it’s important to check your credit early on with a qualified lender. They’ll review your ratings from the three major reporting agencies — Equifax, Experian, and TransUnion — and help you understand your borrowing power. At KeyNova Group, we can connect you with trusted lenders who specialize in residential, construction, commercial, and investment financing.

 

Maintain Financial Stability

In the time leading up to your purchase, avoid big career changes or major purchases. A steady financial profile strengthens your position and makes the loan process far more seamless.