 Learning Center
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Pre-Qualify for a Home Loan
The majority of potential home buyers will require conventional financing to purchase a home. Prior to beginning a home search it's wise to figure out how much home you can afford
to buy. To get a rough idea it may be helpful to use one of the many online affordability tools like the ones available at yahoo finance or bankrate.com.
You can then find a lender, get pre-approved for a
home loan and receive a Preliminary
Home Loan Approval Letter. When you're ready to make an offer on a home this letter can be a valuable tool to share with
home sellers, verifying that you do indeed have the financial backing to afford their home. This way your home searching hours will be invested wisely into looking for a home you can actually afford. Generally speaking, to qualify for a conventional
home mortgage a home buyer will need good credit, earn adequate income, and have a sufficient amount of money in the bank.
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