What other costs to consider in addition to your mortgage?

Monthly utilities. If your utilities have been covered in your rent, this may be new for you. Your real estate broker will be able to help you get information from the seller on how much utilities normally cost. In addition, you might have homeowner association or condo association dues. You’ll definitely have property taxes, taxes are rolled into your mortgage payment. Again, your broker will be able to help you anticipate these costs.

What do I need to take with me when I apply for a mortgage?

1) social security numbers for both your and your spouse, if both of you are applying for the loan;

2) copies of your checking and savings account statements for the past 6 months;

3) evidence of any other assets like bonds or stocks;

4) a recent paycheck stub detailing your earnings;

5) a list of all credit card accounts and the approximate monthly amounts owed on each;

6) a list of account numbers and balances due on outstanding loans, such as car loans;

7) copies of your last 2 years’ income tax statements

8) the name and address of someone who can verify your employment. Depending on your lender, you may be asked for other information.