How To Get — Approved To Buy A Home

Here is a step-by-step guide to getting that "Approved" stamp. 1. Check Your Credit Score

Avoid taking out new loans (like a new car) or making large purchases on credit cards in the six months leading up to your home search. 3. Organize Your Paperwork how to get approved to buy a home

While the 20% down payment is a common myth, you still need some "skin in the game." Here is a step-by-step guide to getting that

Generally, you need at least a 620 for a conventional loan, though FHA loans can go as low as 580 . Mortgage underwriters love documentation

FHA loans require as little as 3.5% , and some conventional loans allow for 3% .

Mortgage underwriters love documentation. Having these ready will speed up the process significantly:

Your last two years of W-2s and your most recent 30 days of pay stubs. Tax Returns: Usually the last two years of federal filings.