Boca Mortgage Blog

How to Prepare Yourself For A Home Purchase

June 16th, 2014 2:12 PM by Leonard Silvestri


 Before making the commitment of buying a home, it is important to have a clear outline of your financial situation. Add to your investment portfolio if possible, and organize your debt. Be honest with yourself about how much you can afford. The following article helps guide you in the right direction before making a purchase.

Lenders like to see that you have contingency money in your bank account — about two to three months of mortgage payments. Many lenders also require proof that your contingency funds have been in your account for at least 60 days before you can pre-qualify for a loan.

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Posted by Leonard Silvestri on June 16th, 2014 2:12 PM


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