Take Advantage of Loan Pre-Qualification

A number of factors determine the price range of homes you'll want to preview - one of these factors is loan pre-qualification.
If you do not have a lender of choice, normally your real estate practitioner can help you pre-qualify. Items considered when pre-qualifying for a mortgage loan include:

• Employment History
• Credit History and Scores
• Monthly Income and Expenses
• Cash reserves

Getting pre-qualified for a loan will help you know how much house you can afford and how much cash you will need for the closing and reserves. As just as importantly, the loan pre-qualification process will simplify the loan approval process and reduce the chances of any unexpected problems with the loan application process and approval. With the knowledge of the mortgage market, your real estate agent or loan officer will help you make an informed decision as to the type of loan you'll want or need. There are many different types of loans to consider - FHA, VA, Conventional and even Bad Credit Loans.

The Advantages

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