Why Get Pre-Qualified?
When beginning your search for a new home or investment property an important first step is to establish a budget to help determine what you will be able to afford. Getting pre-qualified with a lender is an easy process and can often be completed by phone or online. Pre-qualification acts as a "dry run" of the mortgage loan application process and is non-binding to you as well as the lender since they will have not yet verified the information that you provide. This is a crucial first step when shopping for real estate. Once you are qualified and have found a property you are interested in purchasing, your lender will begin to take steps in order to finalize your application. This usually includes things such as a credit check and additional research regarding your financial state. The final approved mortgage amount often differs from the pre-qualified amount slightly as the lender analyzes your credit.
Getting pre-qualified for a mortgage is a free, easy, and no obligation way to asses your potential buying power. If you are interested in getting pre-qualified please contact me and I will happily refer you to a trusted, experienced, and reliable mortgage broker.