Everyone has visions of their dream home: how many bedrooms it will have, what type of appliances will be in the kitchen, what color to paint the walls or how to furnish the living room. But are you stuck in the dreaming phase, unsure of what to do next? One of the very first steps on the homeownership journey is pre-qualification. But what exactly does it mean to be pre-qualified for a mortgage?
Pre-qualification is a quick process examining your credit, income, assets and other expenses to determine the estimated amount you can afford to borrow. This estimate can help give you a better idea of your price range as you begin to look for houses and turn your dreams into reality.
Interested in exploring your financing options? Contact that Housing Buzz team today to speak with a loan specialist!