Daily Archives: July 9, 2014

Home Purchase Process

Home Purchase Process

The Home Purchase Process in New Jersey: Think of Investing in a Home? With historically low rates and rents constantly increasing it is a good idea if you are financially able.   Times have changed however, now you need to be prepared for the paperwork that is required.  From making sure that your credit score is high enough to get a good rate to lowering your debt.  Among the list of documentation that you should be prepared to provided are

1)      W2, 1040 Last two years

2)      6-8 weeks paystubs

3)      Profit and Loss Documentation if your are Self Employed

4)      Investments

5)      Retirement Plans

6)      Other Assets such Stocks, Bonds or other Real Estate

7)      Child Support and Spousal Support (If Applicable)

8)      Other types of Support

9)      Bank Statements

As frustrating as the requirements to approve for a loan, buying a home can be a rewarding and sound investment.  It is important to make sure that you are conscious of what you can afford. You have to think of maintenance, taxes and updates. Most people do not buy a new home so the likelihood is that you will invest some money in remodeling.  

For more information about the home buying process or to inquire about our attorney closing services please contact us at (201) 880-5563.