Get Your Mortgage Ducks in a Row: Pre-Qualify or Pre-Approve
When you're thinking about buying a house, the first thing you need to figure out is how much you can afford. One way to do that is by getting pre-qualified or pre-approved for a mortgage.
Pre-qualification is where a lender gives you a rough idea of how much you can borrow based on your income, debt, and credit history. It's a good starting point, but it's not a guarantee you'll get approved for a loan.
Pre-approval is a more in-depth process. The lender looks at all your financials and gives you a letter saying you're approved for a certain amount of a mortgage. This is more official and shows sellers you're serious about buying the house.
If you're just starting your house search, it's a good idea to get pre-qualified first. But once you find a place you want to make an offer on, get pre-approved.
If you want to know your budget, give me Kevin Freel a call at 727-410-8599. I can connect you with a lending partner who can help you understand your borrowing power and guide you through the mortgage process.
Happy New Year!
If you are thinking of selling or buying, get the extra effort that you deserve from a Realtor with years of experience. Call Kevin at 727-410-8599.