Prequalifying – Mortgage 101 with David Bruce
There’s a lot you’re going to need to know if you are buying a home for the first time. I met with my friend, David, to talk over some of the questions you might have about prequalifying.
Prequalifying is an important first step to getting a mortgage! Without a prequalification letter, it’s hard to move on in the home buying process.
Prequalification as defined at Investopedia.com is “an initial evaluation of the credit worthiness of a potential borrower that is used to determine the estimated amount that the person can afford to borrow. Pre-qualification is a relatively simple and quick process of examining the potential borrower’s income and expenses in order to generate an estimated borrowing range that they would likely be able to repay to the lender.”
Read more: Pre-Qualification http://www.investopedia.com/terms/p/prequalification.asp#ixzz4iC5zAW42
David and I are more than happy to answer questions you have about mortgages. Just leave a comment on the Facebook video!
Josh Sutton REALTOR® with Dalton & Co