To initiate pre-approval, you’ll provide the lender with your financial information, including your income, credit history, and debt.
The first step to buying a home is getting pre-approved for a mortgage loan. This involves finding a lender, such as a bank or credit union, that you want to work with. To initiate pre-approval, you’ll provide the lender with your financial information, including your income, credit history, and debt. Then the lender will evaluate your credit worthiness and determine how much they are willing to lend you to buy a home. You can usually be pre-approved for a mortgage in just one day.