You learn your real budget
A lender turns guesses into numbers: the price range you qualify for, the monthly payment including taxes and insurance, and the cash you'll need at closing. That keeps you from falling for a home you can't buy.
You get time to fix what's fixable
Talking to a lender early gives you a runway. If your credit score, debt or savings need work, they'll tell you exactly what to change, and you'll have months, not days, to do it.
You find programs you didn't know about
Down payment assistance, Mississippi Home Corporation programs, USDA, VA and FHA each have rules and paperwork. A lender who knows them can line up help before you start shopping, instead of after you've made an offer.
Your offers are stronger
Sellers and their agents take a pre-approved buyer more seriously than one who hasn't talked to a lender. When a good home hits the market, you can make an offer the same day.
Pre-qualification vs. pre-approval
A pre-qualification is a quick estimate based on what you tell the lender. A pre-approval means the lender has checked your credit, income and assets. Sellers prefer a pre-approval, and it's far more reliable for you.
What to bring to your first lender meeting
Having these ready speeds things up:
- Recent pay stubs and two years of W-2s or tax returns
- Recent bank statements
- Photo ID
- Information on debts and any child support or alimony
- Gift letter if family is helping
- DD-214 or Certificate of Eligibility for VA buyers
How Travis helps buyers get ready
Travis DeLoach is a licensed Mississippi real estate agent with Luxury Southern Realty in Hattiesburg. He isn't a lender or credit counselor, but he works with local lenders who handle FHA, VA, USDA and Mississippi Home Corporation loans every week, and he'll connect you with one who fits your situation.
- A free first conversation about your goal, timeline and budget
- Introductions to Pine Belt lenders who know first-time buyer and down payment programs
- A home search kept inside the budget your lender approves
- Help asking sellers for closing cost help when the market allows it
Frequently asked questions
How early should I talk to a lender before buying a house?+
Ideally three to six months before you want to buy, or a year if you know your credit needs work. Even if you're ready now, talk to a lender before you tour homes.
Does talking to a lender hurt my credit?+
A pre-approval usually includes a hard credit pull, which may lower your score a little. Mortgage pulls within a short window are typically counted as one.
Is pre-approval free?+
Most lenders don't charge for a pre-approval. Ask before you apply.
How long does a pre-approval last?+
Often 60 to 90 days. Your lender can update it if your search takes longer.
Do I have to use the lender who pre-approved me?+
No. You can compare lenders and choose the best fit before you lock in.
Talk it through with Travis
No pressure. Tell Travis your goal and he'll connect you with a local lender who fits your situation.
Related guides
This guide is general information, not lending, credit or tax advice. Travis is not a lender; loan approval and program eligibility are decided by lenders and program administrators. Travis DeLoach is a licensed real estate agent in Mississippi (MS License # S62442) with Luxury Southern Realty.