5th Avenue Realty Professionals are well versed in all aspects of lending. We do the leg work so you don’t have to!
Before you start shopping for your property, it is a good idea to make some preparations.
Build Your Green File.
A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:
- Financial statements
- Bank accounts
- Credit cards
- Auto loans
- Recent pay stubs
- Tax returns for two years
- Copies of leases for investment properties
- 401K statements, life insurance, stocks, bonds, and mutual account information.
Let us connect you with the best possible lender.
Do you understand the difference between a brick and mortar bank’s lending practices and a Mortgage Broker? An excellent lending institution is a vital part of the process. We have worked on thousands of transactions with an endless number of lenders so we know all the tricks of the trade. Keep in mind that different lenders have different products or loan types. An inexperienced lender or one with limited resources could cost you thousands of dollars. Not all lenders are created equal! Rely on us to ensure your best interest is always at the forefront. We do the leg work so you don’t have to.
Be Careful With Your Finances.
Now is not a good time to make sudden career changes, large purchases, or cancel any credit cards. You want to approach your property purchase from a position of financial stability.
Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution so that you can determine what you can afford. The lender will analyze your credit ratings from the three credit reporting agencies Equifax, Experian and Trans Union.