subject: Prequalify For A Mortgage Before You Shop [print this page] Doing your homework before shopping for an important and high end purchase will save you time, money, and heartache in the long run. Is there any bigger purchase than that of a home for you and your family? Be sure to get pre-qualified before you shop for your new home and apply for a mortgage loan.
Pre-qualified mortgage loans provide the searching buyer multiple benefits. First, you find out how much of a loan you qualify for and as a result how much of a home you can afford. You not only determine a price range for your search but also peace of mind in knowing that you can afford a certain level of real estate. It makes your search for a home that much easier.
Second, by choosing this vital option you demonstrate that you are a serious buyer. Real estate agents, home sellers, and everyone else in the real estate profession will serve you better knowing that you are on the ball and ready to buy.
A third benefit to becoming pre-qualified for a mortgage loan is that by going through the pre-qualifying process you will establish rapport with a mortgage lender. That rapport will pay off during the application and final approval process. There is a lot of paperwork to take out a mortgage loan. The better you know your lender and the better your loan originator and loan processor know you, the easier the process will be.
Best of all, getting pre-qualified for a mortgage loan is simple and fast. In choosing the right lender, ask about the process. Better yet, choose a lender that offers pre-qualification. You wont be sorry.
Enjoy your new home and the peace of mind that comes from showing your buying power potential at the front end of the buying process.
