Before you find your dream home, it is a good idea to speak with a loan officer to get Pre-Qualified. The steps to get Pre-Qualified are
#1 Discuss your situation with your loan officer. Make sure to disclose as much information as possible so that your loan officer can provide you with accurate information. Things to tell your loan officer include the estimated price range you are looking to spend on your new home, any income besides W-2′d income, any obligations such as alimony or child support, etc.
#2 Provide your loan officer with accurate income and asset figures. At this point your loan officer can pull your credit and calculate your debt to income ratios. Different loan programs have different acceptable debt to income ratios.
#3 Loan officer will discuss your options regarding loan programs, down payment amounts, etc.
#4 At this point your loan officer is able to offer you a Pre-Qualification letter