You cannot purchase a home without one unless you are purchasing the property with all cash. In our market area, an offer will not even be presented to the seller unless the offer includes the AAR pre-qualification form completed and signed by your lender. Most lenders can get them completed in a day or two, but it is best to have it in hand when you are ready to see homes and make your offer. In this low-inventory market a day or two can be too late if you find your dream home and you are not prepared. Give us a call or send an email and we can provide a copy of the form for your review.
About 30% of our buyers are cash buyers and even they have to submit verification of funds in order to purchase.