Pre-qualifying for a loan
If you are thinking about buying
a house in the near future, you may want to talk with
a mortgage lender about pre-qualifying for a loan.
When you pre-qualify, you give the lender all the
information you would need to apply for a loan. The
lender will look at your job history and income and
then calculate the approximate size of mortgage for
which you would qualify. If you are already pre-qualified
for a loan, you will have a good idea what prices
of houses you will be able to afford. This can be
very helpful when you are looking for a house and
may help the loan application process go more smoothly
if you find a house you would like to buy.