First Step To Purchasing A Home
The first step to take when considering purchasing a home is getting pre-approved with a mortgage lender or broker. You need to get pre-approved before you start looking at homes. You would be doing yourself and your real estate agent a disservice otherwise. Getting pre-approved is different then getting pre-qualified. A pre-approval is a step further than getting pre-qualified because a loan application is completed. The lender will review your income, debt, assets, and available money for down payment and closing costs. Getting pre-qualified is many times the first step. Getting pre-approved is the next step.
Pre-Qualification = Estimate
Pre-Qualification is only an estimate of how much of a home you…