Q. Would I be able to get approved for an $180,000 mortgage before I start looking for a home? Our credit score is 675. We have had some problems in the past but not anymore.

A. You can get preapproved for a loan before you start looking for a home -- something we think every buyer ought to do.

A lender will evaluate your finances and provide a letter that says how much it would be willing to lend you. Here's a step-by-step look at the preapproval process.

Not knowing how much you make or how much you've saved for a down payment, we can't tell whether you can afford an $180,000 loan.

But we do know that you're going to be on the bubble for many lenders because of your below-average credit score. Don't be surprised if a lender or two refuse to preapprove you. Keep looking.

If you can't get preapproved or can't get it for a satisfactory amount, consider applying for an FHA loan. Its requirements are more lenient than for a conventional loan and your credit score is not as big of a factor. Here's where to find out more about FHA loans.

Full approval can only come when you have a contract on a home. Since the home will serve as collateral for the loan, the bank or mortgage company you choose to work with will evaluate that as closely it does your finances.