Home buyer essentials: Be transparent with your lender during loan pre-qualification

Does it seem like it would be best practice to make an offer on a home, and THEN find out that you don’t qualify for a loan?

It doesn’t seem to be the wisest to go about things.

If you get qualified for a home loan, don’t just go through the motions, giving your lender the minimum information.

The full loan approval process is more in-depth than prequalification. If there is anything you feel may negatively impact your ability to qualify for a loan, bring it to your lender's attention during pre-qualification.

If you think your job situation might change, let them know.

If you get prequalified and then you buy a new pickup truck, you may no longer qualify. Check back with them to see if you still do.

Bottom line - do all you can up front BEFORE making an offer to make sure you will qualify for a loan.