How Do You Prequalify For A Home Mortgage?
Applying for a mortgage always includes prequalification. Prequalifying for a mortgage means the information you have provided to the potential lender qualifies you for a loan. The next step in the process is to obtain preapproval. If you have preapproval for a mortgage, the financial institution has determined the information you have provided is accurate and it is is willing to lend to you. Gather some specific information about your needs and financial standing prior to applying for prequalification of a mortgage. Determine the basic type of house you are looking for and the appropriate price range in your area. Have personal identification, including your Social Security number, on hand prior to filling out any applications. Research the types of mortgage loans available. Know which type of mortgage loan you are interested in obtaining. Know how much of a down payment you plan to make on the loan. To prequalify for a mortgage, fill out an application with a lender. In some cases, t
