Certainly not taking anything away from what Joe said below, because he is right on in a typical situation, but from your posting I want to assume that you don't have tax returns, paystubs and W2's yet. If you are graduating soon and are looking to purchase without having any previous income to verify, such as the documents Joe had mentioned, there are a couple options that can be utilized. The offer letter would have to be reviewed and the underwriter will condition for a first 30 days of paystubs, but we could certainly get you set up with a pre approval assuming the income will be there to verify. We wouldn't be able to close without the paystub, but we would have everything else ready. If your income isn't strong enough, we could utilize FHA's non-occupying co-borrower option that allows a co-borrower, such as a parent, to be on the loan to help support the payments.
Call me or email me to discuss more. I have more than 12 years mortgage experience and can certainly help you find the best route to getting this done.
Mortgage Banker (Manhattan)