One of the first steps in home buying is to visit a lender and find out how much you can afford to spend on a home. This will save you the agony of falling in love with a house that is out of your price range or looking for less of a house than you can comfortably afford. A phone call or short visit to a lender will help determine the range of prices of the homes you can afford. This process is called "Pre-qualifying". There are no costs involved in pre-qualifying and almost any lender will be more than happy to do so for you. A buyer who is "Pre-Qualified" makes a stronger buyer at the time of an offer. The following is information that a lender will require when you speak to them:

• W-2's for the most recent year & current pay stubs

• Self employed borrowers - Two most recent years of signed federal tax returns

• 2 years residence history

• Provide two most recent months bank, investment or stock statements

• Monthly debt information - including names, addresses, account numbers, monthly payment and balances on all open installment and revolving accounts.

• Divorce decree/bankruptcy papers - if applicable

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