During your first meeting, you and your lender will determine the timing to obtain loan approval. Once your loan officer has all the preliminary information that is needed, verification forms may be sent to your employers, banks and current mortgage company or landlord. A credit report and appraisal (professional opinion of the value of the property) will be ordered. You will receive a Good Faith Estimate which lists the costs you will incur at closing

• You should choose a lender within 7 days of your offer to purchase your new home
• Take a copy of the completed Purchase and Sale Agreement with you when you first meet with your lender.
• Be prepared to disclose all your financial circumstances completely.

Loan approvals often carry "approval conditions." These can range from a previous home to sell to proof of funds for down payment. Once all conditions are met, final loan approval can be obtained.