In order to put an offer on a home, you will likely have to present a letter stating you are pre-qualified for the loan.
What do you need to do to get pre-qualified?
The first step is to complete a loan application; the application will give the loan originator the information they need to evaluate your scenario, such as your employment history, income, assets, and liabilities.
The originator will also want to pull your credit and review your credit report. By reviewing the elements of the ACID® test, we can determine if you are pre-qualified. See link: http://bit.ly/2nAn9yb
Also, you may want to consider sending over the supporting documents that will be needed in underwriting; see link: http://bit.ly/2AuAEUH
The loan originator cannot require you to provide these documents during the pre-qualification process, but you can provide them so the originator can better determine if you can qualify for the loan.
If you are looking to pre-qualify for a loan, contact us and we can help you.
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