1. Application ProcessKnow your credit score. For those with a score lower than 700 are often able to show their credit worthiness through non-traditional credit scores, which factor in nontraditional lines of credit, utilities payments and rent that isn't included in a Fico score.
2. Educate Yourself And Get OrganizedAll homebuyers, whether it's their first home or fifth, should take time to educate themselveson their finances and changes to government regulations on lending.
3. Put All Neccessary Documents In Order
Pay stubs, W-2 forms and bank statements are among the required documents. Be prepared to explain anomalies in your past, like a significant gap of time between jobs.
4. Shop The Loan Before The Home
When it comes to deciding between a major bank and a smaller local lender, it ultimately comes down to personal preference.