Find Out How Much Home You Can Afford?
It’s a good idea to get prequalified for your mortgage before shopping for a home.
Prequalification involves supplying a lender with basic information regarding your debt, income and assets. From this information, lenders can get an idea of the mortgage amount for which you qualify, and is at no cost to you.
Being prequalified can help you narrow the range of homes in which you are interested, as it’s another way of knowing what you can afford.
It can also help you act fast if a home you’re interested in has a lot of interest. Prequalification shows you are a serious shopper, and your offer will be taken more seriously than an offer from someone who has not spoken with a lender.
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