We're getting closer to the start of the new season, but there are still a few tasks you must-do before you even start your spring house-hunting.
File your taxes
It is tax season after all! Lenders will want to see your most recent tax return to show your income when you're preparing to buy a home in Northern Virginia. If you are making payments now or are filing an extension to file your return later, the lender will require additional documents to confirm your income. Regardless, the bank will want to see your federal tax return prior to your purchasing a home.
Get other financial documents ready
Preparing to buy a home this spring is a process that will require documents like W-2's, 1099's and old tax returns to show your income for the past two years. The more assets you can show, the better. What lenders want is the proof that you have funds to cover at least two months of mortgage payments, plus insurance.
Check on your credit
Credit scores are important to homebuyers in NoVa, so look into your report now. Any errors you find can take months to fully correct which is why working slightly ahead of your home buying timeline is always advised.
Research the market
Before you can start house hunting in Alexandria, Arlington, Springfield or Annandale, it's helpful to get pre-approved, research how much you can comfortably afford and take note of home prices in the area.
Start shopping smarter for homes in Northern Virginia this spring. Don't wait until you find a home you love to do the prep work— I'm here to help! Have questions? I have years of experience in real estate to answer them!
I happily serve the areas of Alexandria, Annandale, Arlington, Burke, Centreville, Chantilly, Clifton, Fairfax City, Falls Church, Great Falls, Herndon, Lake Ridge, McLean, Mount Vernon, Reston, Rosslyn, Springfield, Tyson’s Corner and Vienna.
Earle Whitmore
Long & Foster Real Estate, Inc.
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Visit Our Website
View Northern Virginia Homes for Sale
Become Our Facebook Fan
Follow Us On Twitter
Connect With Us On LinkedIn