*How Much Can You Afford?* Before you can begin to search for a new home, you need to determine your budget and estimate how much you can afford. One of the most important factors in figuring out your financial budget is getting pre-approved for a mortgage. *Documents Needed* When you apply for a mortgage, you will need to furnish information regarding your income, expenses and obligations. To save time, have the following items available for each borrower: Two most recent pay stubs W-2s for the last two years Federal tax returns for the last two years Last two months’ bank statementsLong term debt information (credit cards, child support, auto loans, installment debt) If you are self-employed, you may also be required to provide financial statements for your business. *Types of Loans and Down Payments Needed* Currently there are many different mortgage products available including: · 15, 20, and 30 year Fixed Rate Loans · Adjustable Rate Loans · New Construction Financing · VA Loans · FHA Loans · USDA Loans · Any many more Down payments vary on different loan types with some loans requiring no down payment at all. To determine what type is most suited for your needs contact your loan company or call me at 812-346-5881 for more details.	Arlene Marion Phone: 812-346-5881 Cell: 812-592-2283 Email Me! Featured Property Convenient Location! 214 Norris Ave North Vernon, IN 47265 $75,500-1 STORY 3 Bedrooms. 1 Bathrooms. View Virtual Tour

How Much Can You Afford?

Before you can begin to search for a new home, you need to determine your budget and estimate how much you can afford. One of the most important factors in figuring out your financial budget is getting pre-approved for a mortgage.

Documents Needed

When you apply for a mortgage, you will need to furnish information regarding your income, expenses and obligations. To save time, have the following items available for each borrower:

Two most recent pay stubs
W-2s for the last two years
Federal tax returns for the last two years
Last two months’ bank statementsLong term debt information (credit cards, child support, auto loans, installment debt)

If you are self-employed, you may also be required to provide financial statements for your business.

Types of Loans and Down Payments Needed

Currently there are many different mortgage products available including:

· 15, 20, and 30 year Fixed Rate Loans

· Adjustable Rate Loans

· New Construction Financing

· VA Loans

· FHA Loans

· USDA Loans

· Any many more

Down payments vary on different loan types with some loans requiring no down payment at all. To determine what type is most suited for your needs contact your loan company or call me at 812-346-5881 for more details.

Arlene Marion
Phone: 812-346-5881
Cell: 812-592-2283
Email Me!

Featured Property

Convenient Location!

214 Norris Ave North Vernon, IN 47265

$75,500-1 STORY

3 Bedrooms. 1 Bathrooms.

View Virtual Tour