You’re in luck — we’re experts in this area. You can meet with any mortgage lender (for example, your bank) at any time to get pre-qualified. Pre-qualification means a lender, based on your credit score, income, and other basic factors, estimates that you would likely qualify for a mortgage. It’s informal and non‑binding.

As you get closer to buying a home, you’ll want to pursue pre-approval. You can obtain pre-approval from a local bank, credit union, or mortgage broker — or from one of many national online lenders. Pre-approval is also not legally binding, but it provides a stronger indication of your ability to secure a mortgage and is something most sellers expect to see within a couple of days after receiving your offer.

Before you apply, there are a few items you should have ready. Take a look below for details.

Before completing a mortgage application or even strolling through an open house, you’ll want to know these things:

• Your monthly income

• The sum of your total monthly debt payments (auto loans, student loans and credit card minimum payments)

• Your credit score and any credit issues in the past few years

• How much cash you can put down

• How much house you can afford (Use our simple calculator to estimate this.)

These are all important questions that will be asked, and a mortgage lender will use to determine if you pre-qualify for a home purchase.