Prequalification
You will want to get pre-qualified during your mortgage search. Prequalification isn’t binding but rather it gives you a ballpark idea of what you can afford. The lender analyzes your income, debt and credit history to estimate your maximum loan amount. Combine that with the money you have for a down payment and you have your maximum home price.

The next step is preapproval which verifies your income, debt and credit. Preapproval gives you the following benefits:

• Knowing exactly what you can borrow. You will have an accurate commitment from your lender for the amount you can borrow.
• Credit problem solving. You will know now, instead of while your offer is being evaluated by the buyer if you have any credit issues to be dealt with.
• Stronger negotiating position. Sellers love preapproved buyers. They know your offer will not fall through and will treat you like the proverbial bird in the hand. This can help you negotiate a better price.

Prequalification makes the buying process go faster.

This very important step can help expedite the entire home-buying process by allowing you to know exactly what you can afford, and what financial aspects, if any, you can work on improving.

It can also make your bid on a house more attractive since the seller knows your financing situation, and can immediately express interest in your offer.

Even if your credit report suffers from a few negative instances, you'd be surprised by the doors a Pre-Qual can open for you. So don't waste another second, fill out our PreQual form below and we'll show you how much financing you can easily line up for your dream home today!