Zillow Advice: Approval Process - Can we get preapproved before we find a home? http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ Zillow Advice | Zillow Real Estate Not only can you, you should. ... http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ Not only can you, you should. &nbsp;A true professional loan officer should do a lot more than just issue you a pre-qualification letter. &nbsp;You should spend time with your loan officer developing a home purchase plan. &nbsp;This includes defining the process and timeline, and most importantly understanding your individual cost of purchasing a home.&nbsp; Mon, 12 Nov 2012 21:11:00 GMT http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ 2012-11-12T21:11:00Z You can and you should. Make ... http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ You can and you should. Make sure to&nbsp;ask your lender for a true&nbsp;pre-approval, meaning they&nbsp;review your credit report, income, and assets and make&nbsp;an actual loan decision outside of&nbsp;reviewing an appraisal (which obviously can not be done until you find a home and have an accepted offer). Once you are pre-approved, you can shop with confidence and have great homebuying experience with much less stress. Best of luck. &nbsp; Sat, 27 Oct 2012 19:35:00 GMT http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ 2012-10-27T19:35:00Z All of the realtors I work ... http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ <p>All of the realtors I work with require the borrower to get pre-approved prior to&nbsp; looking for a home. Your lender will do a credit check and advise you how much you&nbsp;can be pre-approved for based on your current debt vs your income.</p> Sat, 27 Oct 2012 11:06:00 GMT http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ 2012-10-27T11:06:00Z You most certainly can and ... http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ You most certainly can and should so you know what you qualify for and you will need to present a pre-approval letter with your offer once you find a home.<br/><br/>Hope this helps and good luck, it's a great time to buy =) Sat, 27 Oct 2012 01:36:00 GMT http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ 2012-10-27T01:36:00Z Absolutely.&nbsp; Always ... http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ Absolutely.&nbsp; Always know the numbers (ie Full PITI monthly payment, and mortgage amount) before you go "shopping" for homes.&nbsp; This way you aren't wasting your time and know exactly what your limits are.<br/><br/>With that information you can contact a local Realtor to help find you a good house.&nbsp; As a rule of thumb most Realtors will not work with clients that aren't already pre-qualified.<br/><br/>Best wishes from So-Cal and good luck on your home buying journey! Fri, 26 Oct 2012 22:09:00 GMT http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ 2012-10-26T22:09:00Z but getting that pre-app ... http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ but getting that pre-app is not a commitment to that lender.<br/>===================<br/>absolutely correct. And the same goes for agents, just because an agent shows you the first 20 houses you look at doesn't mean you have to use him when you go to that 21st house and decide to buy it. Fri, 26 Oct 2012 22:07:00 GMT http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ 2012-10-26T22:07:00Z Yes, and you should.&nbsp; ... http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ Yes, and you should.&nbsp; Contact a lender for a pre-approval.&nbsp; You'll not only learn how much you can get, but how much the monthly payments will be for the mortgage.&nbsp; Combine it with the monthly home insurance, taxes and PMI if required and you'll have a clear idea, based on your income, of how much of a payment you're comfortable making each month.&nbsp; Many folks qualify for much more than they really want to take on.<br/><br/>Just as important, the pre-app makes you armed and ready if you find a house you like.&nbsp; When you make an offer you need to demonstrate that you can get the funds.<br/><br/>Lastly, whoever does your pre-app will hope to get a shot at your business after you find a home and go to contract.....but getting that pre-app is not a commitment to that lender.&nbsp; Your mortgage application will be filed after you're in contract to purchase.&nbsp; Until then, you needn't commit to a mortgage company.<br/><br/>Best of luck........Paul Fri, 26 Oct 2012 21:53:00 GMT http://www.zillow.com/advice-thread/Can-we-get-preapproved-before-we-find-a-home/466034/ 2012-10-26T21:53:00Z