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Posted in Mortgage
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Question By
yadi54

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0 People Helped
pre qualified for a home loan
Need to get pre approve for a home 200.000 thousand dollars home loan

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Top Contributor
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Talk to a mortgage broker, preferably someone local who will put forth more effort to make things work for your situation and not someone from some huge lender like Quicken Loans. They will want some basic information from you, like who your employer is, how much you make, and how long you've worked for them. They will want to know about all your monthly payments, such as student loans, car payments, and credit card payments. They will add up all the minimum payments and determine whether or not you make enough money to support a mortgage. They will want to know how much you pay in rent and how long you've lived at your current address. They'll want to know about your bank accounts and how much savings you have. 
After giving them all this information, if they feel you could be in a position to move forward they will get your permission to pull your credit and see if you qualify for conventional financing or if you'll need to go with something else like a VA (for veterans only), FHA, or USDA loan. 

Be sure to have documentation ready, like paystubs, bank statements, and rental agreement. Good luck!

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