Mortgage Pre-Qualification – What is Required?
If you are looking to get a mortgage pre-qualification you are definitely headed in the right direction. A pre-qualification can help you negotiate when making an offer on a home and can also help put your mind at ease as to whether or not you can get approved for a mortgage. Many sellers are more likely to consider an offer made by a pre-qualified buyer. It makes your offer a sure and sound offer.
It is important to note that not all mortgage pre-qualifications are equal. Some lenders do a true pre-qualification for a mortgage while others do a very cursory review in order to get you on the hook. Make sure you choose a lender that offers a true mortgage pre-qualification. You don’t want to waste a lot of time and energy, searching and negotiating on a home, only to find out you are not approved because of a cursory pre-qualification.
Mortgage Pre-Qualification – What to Expect
If they are a lender serious about the pre-qualification process there is certain information that they will definitely want including:
