LOAN TIPS AND TOOLS
Check with your employer’s human resources (HR) department and ask if they have any home buyer assistance programs. If you have a co-borrower, remember to ask their employer as well.
Be ready and have your documents already assembled.
Find your recent pay stubs and W-2s, or last two tax returns. If you have supplemental income such as court ordered income, retirement income, or state sponsored aid, have the documents that describe the amount and terms of those benefits.
Have your employer’s address and phone number for the past two years of employment.
If it is a refinance, locate your home owners insurance (HOI) declaration page and the most recent mortgage statement(s) on your current home loan(s). If it is a purchase, get a quote from an insurance company for a home insurance policy.
If there is a home owner’s association (HOA), locate the documents showing the amounts paid for the past year or if this is a purchase, have the phone number for the management company of the home owners association.
If you own other property, have the HOI and HOA documents for those as well.
Other documents may be needed depending on the complexity of your finances or loan.
Give some thought to what your mortgage preferences are:
Do I want the absolute lowest payment I can get?
Do I want the security of knowing my mortgage interest rate will never change?
Do I want to pay off this loan as fast as possible?
ADDITIONAL INFORMATION
Know what your property taxes will be by looking up property tax records for any county:
https://publicrecords.netronline.com/
The Department of Housing and Urban Development (HUD) offers assistance by state:
HUD Assistance in Virginia: