Readiness is more than a credit score
A useful review considers income, debts, credit history, assets, employment, occupancy, property type, price range, monthly-payment comfort, and the source of funds.
Do not make a purchase plan from an online estimate alone. Taxes, insurance, mortgage insurance, HOA dues, CDD assessments, and property-specific costs can change the payment.
Understand what a preapproval does
A preapproval is a tentative lender assessment based on the information and documents reviewed. It is not a guarantee; final approval also depends on updates, underwriting, the property, title, insurance, valuation, and program conditions.
The strongest preapproval reflects the property and offer being considered—not only a maximum number produced at the beginning of the search.
Assistance programs have terms
Down-payment assistance can be grant-based, forgivable, deferred, or repayable. Eligibility, funding, geography, education, income, price, occupancy, first-mortgage, lien, and repayment terms vary.
The useful answer depends on the borrower, property, occupancy, documentation, lender or investor, and the rules in effect when the loan is reviewed.