I agree with the others the only other difference maybe that earnest money might have to be in the form of certified funds. The loan application or pre-qualification process is basically the same no matter how you are planning to purchase a home.
Hope this helps you.
Mountain AIre Realty
706 276-1122 o
In order to get Pre-Qulalified, you will need to have your most recent pay stub, most recent month of bank statements, and '09 and '10 W-2's and Federal Income tax returns. Be prepared to provide these when you submit your request. There is no loan officer who can do an accurate Pre-Qualification without seeing this documentation.
Unfortunately for everyone, there are some loan officers who will gladly issue you one without seeing any documentation. That is exactly why the REO sellers only accept Pre-Quals from specific lenders.
Sr Loan Officer / FHA 203K Renovation / HomePath Specialist
Apply Online at http://www.rodneymason.com
Licensed in AL & GA
Qualifying for a foreclosure is the same as qualifying for any other real estate purchase. As Earnest Arp stated below, some foreclosure companies want you to qualify with their lender but they cannot legally require you to use them for your financing - you just have to cross-qualify with them.