- Hi, I'm Michelle Courtney.
- And I'm Bill Anglin.
- We're from the Courtney and Anglin Real Estate Group.
- With New Years and Christmas behind us,
many people start thinkin' about real estate again.
- The buying season is right on the horizon,
and we want you to be ready.
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- Today, we're gonna get you some answers
on what you need to start your home search.
- We're here today with John Hudey,
a mortgage specialist with RBC.
Hi, John, how are you doin'?
- How you doin', Michelle? - Good.
- Hi, Bill. - John.
- John, so tell me, why should
a potential buyer get preapproved?
- Michelle, that's a great question.
A potential buyer should get preapproved,
'cause it helps establish a purchase point for them.
It also allows them to review their income documentation,
their down payment, verifications,
and also have a quick review of their credit bureau.
- What information and documentation does a buyer
need to bring to you for their first meeting?
- Income verification.
We're looking for your most recent pay stub,
your last two years' tax returns,
and also confirmation of your down payment.
- What if you're self-employed?
- Well, if you're self-employed, we're looking for
a full history of your two years' tax returns,
and depending on how you file,
it could also include your corporate returns as well.
- Thanks for the information, John.
It helps clear up a lot of
the questions that our clients have.
- Are you wondering what happens
if the property you're looking at
has rental suite income potential?
Stay tuned and find out next week.
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