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If have these items together and ready to give to your lender on the first visit it will greatly speed up your loan process.

Copy of Drivers License

Most recent pay stubs for last 30 days

W2's for past 2 years

If you are self employed - personal and corporate tax returns for past 2 years

Asset verification/most recent 401K/IRA statement

Copy of Bank statements for checking and savings for past 2 months

After you are qualified and have found the perfect home the lender will also need the purchase contract, homeowners insurance information, and most recent property tax information for the property you are buying.

You have probably all heard that everytime someone pulls up your credit score that your score actually drops. This is true, so how can you shop lenders without lowering your score. Here is the process.

1 - go to annualcreditreport.com -  your report will be free(one free per year from each of the 3 agencies) but you will have to pay a small fee for your actual number score. Do this for all 3 agencies(equifax, transunion, and experian). IT IS VERY IMPORTANT to PRINT OUT THE REPORT AND SCORE FOR EACH AGENCY.

2. Now take a copy of your report and score from each agency to the lenders you wish to shop. The lenders now have all the information they need about your credit and they didn't have to pull your score or report.

Some important facts -

1.- Your score is not affected when you pull it yourself.

2.-The higher your score is the better interest rate you will be offered, so even if you have a good score you do not want it lowered even a few points becasue it could cost you in interest on your loan.

What an amazing deal.  The NC Bond program is giving $14,900 to first time home buyers who purchase a foreclosure. Combine that with the Fed Govt giving an $8,000 tax refund to first time home buyers and that is $23,000 free money.  The $14,900 is actually a second mortgage, but 20% of the loan is forgiven for each year you live in the house so after 5 years you owe nothing. That money can be used for downpayment  where the $8,000 you get from the Fed Govt. comes in the form of a refund check only after you purchase the house. I have helped many family's buy their first home this year and they have all purchased foreclosures and have been very happy. I only wish this program had been in effect earlier in the year so they could have taken advantage of it.

In case you are wondering a first time home buyer is anyone who has not owned property in 3 years.

There are income limits for the NC Bond program, and it is not available in all 100 counties. It is available in Iredell, Rowan, Cabarrus, Mecklenburg, Catawba, and Gaston counties.

If you are interested in HUD Foreclosures there is a free government website that you can view HUD Homes in the USA. Just send me an email at rhonda@lakelandrealtyhomes.com and I will be glad to send you a link to their website.

Tell someone about this deal, it can greatly help a lot of people.

HUD makes it easy for first time home buyers to get a great deal on foreclosed property. I have worked with many first time homebuyers who are tired of competing and losing to investors in the foreclosure market.

HUD has fixed this problem!  For the first 10 days the foreclosed house is on the market ONLY owner occupants are allowed to bid on the homes.  If the house does not sell in the first 10 days then investors are allowed to bid. Stated simply, owner occupants get a head start in the bidding process.

DO NOT PAY FOR ACCESS TO WEBSITES SHOWING HUD HOMES. THERE IS A FREE WEBSITE THAT ANYONE CAN ACCESS. CONTACT ME AND I WILL EMAIL THE LINK TO YOU!!!

First time home buyers should not overlook HUD foreclosures when they are shopping for a home.

Here is HUD's deal, you only need $100 down payment, HUD will pay 3% of the sale price towards your closing cost, if you close within 30 days HUD will give you $1,000.

Also if you use HUD's attorney you will not be charged an attorney fee, HUD has already done an appriasal and will give you(your lender) one copy at no charge, and HUD also has already done inspections however it is highly recommended that you also have a professional inspection done also.

With all these incentives some buyers actually walk away from the closing table with a check and a new home.

And don't forget if you are a first time home buyer you will get a $8,000 tax credit from the federal government for buying your first home.(Must be closed by Dec.1, 2009)