Potential borrowers typically begin the process by applying to one or more mortgage lenders of their choice. The bank or institution will require evidence that the individual is able to repay the loan, such as bank statements, tax returns, proof of employment, and a credit check (as applicable). Typically, it is best for buyers to apply for a mortgage before they begin looking for a property. This is known as pre-approval and helps individuals understand what they qualify for and gives them a competitive edge with sellers who will know they have money to back their offer.