Great Advice for Mortgage Seekers…

Holly Rogers and Kathryn Pedersen of Yampa Valley Bank passed around simple advice for buyers who are in need of a mortgage.

 Things to Do

  • The #1 thing to do:  Meet with a mortgage broker to discuss your specific needs and situation.  The earlier the better-even a year to 6 months ahead can be of benefit.
  • Check your credit.  You can do this at www.annualcreditreport.com for free.  If you find errors, get them corrected quickly.
  • Save your paperwork:  bank statements, mortgage statements, paycheck stubs, tax returns, etc.  You may need these items for your loan applications.

 What not to Do

  •  Buy a car or take on additional debt.  This may include co-signing a loan for someone.
  •  Change jobs or methods of your income (ie becoming self employed or changing from an hourly wage to commission based income).
  •  Become past due on any accounts or make payments late.
  •  Bounce checks.  If they are on a statement that you give to the lender, it could hurt your chances for approval.

Anne Mayberry  970-846-1425

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