fbpx

How To | Get Pre-Qualified for a Home Mortgage

 

Shopping for a new home is an exciting time and we love getting to be a part of the process. To make this process as easy as possible for you, we strongly recommend that you get pre-qualified by a lender. A mortgage pre-qualification can be useful as an accurate estimate of how much you can afford to spend on a home and ensures you are truly looking in your price range.

 

Here’s a step-by-step guide on the pre-qualification process. 

 

1. Find a Lender 

Find a lender you’d like to work with. We’ve included a few of our favorite lenders below. They serve as a resource to select the financial institution best suited to you so that you can choose the most competitive loan terms and most favorable lending experience.

 

2. Have Your Information Ready 

Once you’ve found a lender you’d like to work with, the Lender will start with gathering some basic information about you and your financial history. If you are going to have a co-borrower, the Lender will need their information as well. In order to pull the required credit report, the lender will need information such as your gross income before taxes, and your social security number. 

 

3. Receive Your Results 

If the information you have given and the information obtained from your credit report meets the lender’s guidelines, the lender will make a preliminary decision on the particular loan you qualify for. *It is important to note that the Lender is not making a promise to lend this specific amount. Each lender will have their own standards and guidelines as to how much they will allow you to borrow. 

 

FOLLOW US @URBANSPACEREALTORS

Login to Urbanspace Realtors

Welcome back! Please enter your details.
New to Urbanspace Realtors? Sign up now.

Close