Here are a few mortgage resources to assist you in getting prequalified and/or giving you information on financing possibilities. It is wise, before making an offer on a property,to have a pre-qualification letter from a mortgage institution. You know how much you can afford to spend and having the letter makes your offer stronger to the seller.
Tools to Help with Your Mortgage:
- Pre-approved Buyer Is A Serious Buyer – An essential first step in the home buying process entails getting pre-approved for a mortgage loan. The process involves a thorough review of your financial situation and allows you to determine the size of the mortgage loan for which you qualify.
- Mortgage Calculators (How Much Can I Afford??) – There are lots of good tools on the internet to estimate mortgage payment costs. If you need assistance, speak to a qualified lender.
- What is the difference between pre-qualified and pre-approved? – Pre-qualification represents a mortgage professional’s opinion, in which little information, if any, has been verified. A pre-approval is the result of verifying credit, income, and assets, and represents a decision as opposed to an opinion.
- Mortgage Terms Glossary