Financing
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At Key Realty Solutions, we understand that securing the right financing is a crucial step in your home-buying journey. Here’s how you can prepare:

1. Organize Your Financial Documents:

Create a “Green File” containing essential financial records that lenders may require, including:

• Bank statements and investment accounts
• Credit card statements and auto loan details
• Recent pay stubs and tax returns from the past two years

2. Know Your Credit Score:

Your credit score plays a significant role in determining your loan options.

• Scores typically range from 400 to 800.
• A score of 620+ is considered “good,” while 680+ is “excellent” and may help secure better interest rates.
• Check your credit score with Equifax, Experian, or TransUnion and work on improving it if needed.

3. Manage Savings & Debt:

• Save for a down payment, closing costs, and property inspections.
• Reduce outstanding debts, particularly high-interest loans, to improve your debt-to-income ratio.

4. Maintain Financial Stability:

• Avoid major purchases or job changes before applying for a loan.
• Keep money stable in your accounts to show financial consistency.

Lenders favor financially stable and responsible borrowers. Proper preparation can lead to better loan terms and a smoother home-buying process.