Loan pre-approval questionI am a first time home buyer looking to get pre-approval for a home loan. I recently got my first credit card for the sole purpose of building of credit. This line of credit shows on my report but I do not have a score yet. My understanding is that lenders will then look at alternative credit. Unfortunately I don't really have any bills coming to me in my name. Car insurance and cell phone both go through my parents. I pay them rent so having them sign a letter stating that is really going to be the only alternative credit I'll have going for me. Despite all of this I have a decent amount of savings. As of right now I have 20k in savings. I'm bringing in at minimum $2200 monthly after taxes. I talked with mortgage broker earlier today and her response was essentially to call in a couple of months when I've got a credit score. Is this the same answer I will get from everyone or should I call around to a couple more places? Waiting a couple of months wouldn't be the end of the world, but I'd like to get some sort of pre-approval sooner rather than later so I can get the ball rolling and at least start going out to look at homes. I'm looking at homes in the 80k range. Does my savings help me out at all in this situation? I was originally hoping it would offset my lack of credit some. Any advice is greatly appreciated.June 04 2010 - Avondale00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.