Generally, as a lender, we will want to see all your funds prior to issuing a preapproval. I have been able to supply a preapproval to a buyer when they know that their annual bonus is paid out every May 15th for example and I am confident from reviewing their last 2 years of income history that this bonus does exist and will be available prior to closing. If someone who doesn't normally receive a bonus is banking on one to purchase a home, I wouldn't issue a preapproval letter. Generally we are tracking the time line discussed below by Philip - 30 days worth of preapproval/shopping time and 30 days or less to close. Please feel free to call me if you wish to further discuss your financing needs. I have worked in the lending industry for over 20 years and am confident I can assist you get the mortgage loan that best fits your needs.
Julie A. Horvath
555 Metro Place North, Suite 320
Dublin, OH 43017
NMLS ID: 563029