Since every lender will be different with their qualifications for a home loan, your first question should be to ask about the guidelines. Every lender will have a different set of guidelines that they will follow to approve or reject a loan application. This is an important first question because you can easily see if you will even have a chance at being qualified before going any further.
After your qualification question has been answered, it is time to know what type of down payment they are expecting. Once again, each lender carries a different answer for this. It can range anywhere from 3% to 20% or more. It will all depend on factors such as the lender, type of home loan, and type of housing. You should keep in mind that, even if you want to put down a large down payment, you should be cautious about it. Putting too much money towards the down payment can take money away from other expenses you may need later on.
One more, very important, question for each lender will be to ask about the documentation that you will need. Some lenders will require more documents than others. Know that some of these documents may not be necessary for every application so know which lender is going to benefit you the most.
If you are pretty sure you are ready to buy a home, it's easy to jump into an application. Make sure you're prepared by asking the questions above. You'll be glad when you don't get points knocked off your credit score just months before you could actually qualify.