Before you shop
- Check your credit report and score (free at annualcreditreport.com).
- Pay down high-interest debt where possible.
- Know your gross monthly income and current monthly debt payments.
- Estimate how much you can put toward a down payment and closing costs.
- Get a rough idea of property taxes and insurance in your target area.
Documents to have ready
- Pay stubs (usually last 2 months).
- W-2s or tax returns (often last 2 years).
- Bank and investment account statements.
- Proof of any other income (bonuses, side work, etc.).
- ID (driver's license or passport).
When you're ready to apply
- Avoid big new purchases or new credit before or during the process.
- Don't switch jobs if you can help it.
- Compare at least 2–3 lenders or quotes.
- Lock your rate when you're ready to move forward.