To apply for a home loan based on a property purchase agreement, first review the agreement to confirm key details like purchase price, closing date, and contingencies. Next, obtain a pre-approval from a lender, which requires submitting documents such as income statements, tax returns, and the purchase agreement. Once pre-approved, submit a formal loan application with the lender, including the purchase agreement as a binding document. Coordinate with the seller, real estate agent, and title company to ensure alignment between the loan terms and the agreement. Finally, await underwriting approval, which may involve additional verification or negotiations.

This process ensures the loan aligns with the purchase agreement’s terms, reducing risks of disputes or delays. According to the Consumer Financial Protection Bureau (CFPB), 60% of mortgage applications face underwriting delays due to incomplete documentation, emphasizing the need for precise alignment between loan applications and purchase agreements. The National Association of Realtors (NAR) reports that 30% of home sales fail at closing due to financing issues, underscoring the importance of early lender coordination. Additionally, the Federal Housing Finance Agency (FHFA) data shows that loans tied to formal purchase agreements have a 15% lower default rate than those without, as clear terms mitigate ambiguity. Thus, integrating the purchase agreement into the loan application streamlines approvals and minimizes transactional risks.