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How far in advance can you get pre-qualfied before you purchase a home? My boyfriend and I are planning on moving to Idaho and we currently are renting in California. As he is still working in Calif., we would like to get pre-qualified before moving. He plans on working in the same field when we move (medical).

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

I would say atelaest 3 - 4 months before the purchase

but remember if your boyfriend is goign to change his job, that may requires you to get requalified again

jenkin7 · Posted: Fri Oct 02, 2009 11:47 pm Post subject:

Hi Trisha,

Pre-qualification does not guarantee that you will be approved for a loan. You can still be denied credit, even though you have been pre-qualified. However, getting pre-qualified does help. It makes your home buying a little easier. It sends a clear message to the seller that you are indeed serious about purchasing a new house and he considers your offer accordingly. In your situation, your boyfriend may have to get re-qualified, as mentioned by sunnyca, because of a change in his job. But given the fact that he plans to work in the same field, I don't think it is going to cause much of a problem for him.

hemsleysue · Joined: 13 Sep 2009 Posts: 72 0.02 Dollars($)

Hi Tisha,

You can negotiate in a better & faster way with seller. As they will think you serious buyer from day one.

But since your buyfriend will be changing his job, you need to apply again.

gmakerley · Posted: Sat Oct 03, 2009 8:14 am Post subject:

to negotiate with a seller, you need preapproval rather than prequalification. you can certainly start this process, as noted, 3-4 months in advance, and that will give you some confidence in what will take place once you move, but that much lead time will cause you to go through the process again shortly before you actually make a purchase.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

If your boy frind is goign to change job, that may have diffrent effect on the loan approval process

gmakerley · Posted: Sat Oct 03, 2009 9:10 am Post subject:

yeah, but sunny...they will present this information to the prospective lender, who will base the prequalification or preapproval on the job change. inasmuch as the change will be for the better, i'm sure it will be work.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Thats absoutley correct george

But in this market as you know, how difficult it is to get a mortgage loan and when some one changes job,that raises some questions

gmakerley · Posted: Mon Oct 05, 2009 7:17 am Post subject:

which is precisely why a prospective borrower asks about it in advance and, if so moved, heeds the advice given that the new loan officer be apprised of the situation in the process of prequalification and/or preapproval.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

No arguments george

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