If you are shopping for a home it is very important to get a pre-approval letter. This can be done by speaking to a lender over the phone. This will allow you to know how much you can spend and how much you want to spend. The process will help you estimate what your monthly note will be. Many people can get approved for more than what they can afford. Remember loans do not expect you to be able to pay your utilities and eat:). After you attain a pre-approval you will need to provide your lender with hard copies of all the information that you verbally provided to them. Lending is changing all the time make sure you stay in contact with your lender.
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