We all know how tough it is to get the home loan approved and there is no doubt at all that the home loan is the toughest case as far as the bank transactions are concerned. The banks out here in United States were very reluctant in providing the home loan before 1999 but after this year, almost everything changed completely and this was one of the main reasons for the recession in the year 2008. It was during this year when the banks started to pay the loan at reduced rates and there is no doubt at all that this marked the beginning of the downfall of the economy. However, soon the government found out that this is not legitimate and hence they should stop the bank from providing the home loans so easily. There is no doubt at all that the government was late to realize, this definitely lead to recession in the year 2008, and this definitely lead to the downfall of the whole economy of the country.

However, the main issue is the present home loan pre approval process and we will have to look at the details of the pre approval process as far as the home loans are concerned.

As far as the requirements are concerned, there is no doubt at all that they are quite heavy and as far as the first time home buyer loans are concerned, the process is not that simple. Before applying for the loan one should make sure that, he prepares all the documents, which are required by the bank to provide the loan.

Almost any applicant should make sure that he has a good credit report and if he will not have the good credit report then there is no doubt at all that the loan will not be sanctioned. A good credit report should have a good credit score and it should be around 700 or above . The government after the recessions has strictly ordered that the loan should not be provided if the person does not have the good credit score since a healthy credit report is a sign of a good creditor .

It is important to make sure that the applicant has a good credit report and if he does not have the good credit report then it is definitely important to make sure that he do something though, the identity proof is also required.

If the credit report is not good then it is important to get a copy of the credit report from the three credit bureaus and if found improper then the applicant should first try to make sure that he improves on the credit score. One should just make sure that all the credit report is managed properly and it is important to understand that a good credit report can make the loan request quite strong.

The first and the last proof for the loan is the loan pre approval letter and it is important to get this as it is the proof for the sanctioning of the loan.

If one wants to get the first time home buyer loans with zero down payments then one has to submit a good credit report. Without any doubt, one will definitely find that the most important thing for the home loan pre approval is nothing else but the good credit report.