What should we do before we apply for a mortgage?

Here's what I'm thinking we should do:

order a credit report on both of us from myfico.com

keep our pay stubs

dig out our last couple of years' tax returns

anything else?

Dont use your credit cards for a few months, you'll get a better credit score and that will help you get a better rate.

Also, keep at least 2 most recent months asset statements.

have you been pre-approved? i would shop around for the bet rate and get pre-approved. this can be done over the phone.

once you find a home and need to secure a mortgage you will have to supply the following (this is what is stated on our pre-approval):

- executed agreement of sale showing purchase price
- current asset balance
- explantion of delinquencies (if any) on our credit report
- home owners insurance policy
- receipt of employment, confirmation of montly salary, date of employment, position and probability of continued employment
- receipt of preliminary title report

Thanks Skew!

Pre-approval is the next step then!