Mortgage pre-qualification is an early step in the home buying process to show you're working with a lender and are ready to buy. Speak with a lender to get pre-qualified for a home loan in minutes.
A mortgage pre-approval isn't the same as pre-qualification. Learn how to get pre-approved for a mortgage, including what information you’ll need to supply to a lender and what to do if your pre-ap...
If you’re serious about buying a home, you need to get pre-approved for a mortgage. Learn what is required so you can speed up the approval process.
With a mortgage preapproval, a lender looks at your financial information and determines if you’re a good candidate for a mortgage loan. They’ll also evaluate how much money you can potentially borrow — an important detail to know as you start your home-buying journey. The preapproval process includes answering a few questions, submitting various financial documents, and, many times, agreeing to a credit check. You’ll want to ...
Ready to get your mortgage? Learn the benefits of a mortgage pre-approval certificate and what information you need to provide.
Pre-qualify for a mortgage in minutes Want to know how much you can borrow? Find out in a few easy steps and then we'll contact you. By using this tool, you consent to the collection, use...
Start saving and check your credit: To get a mortgage, save for a down payment and other costs and make sure your credit score is in good shape so you can qualify for the best mortgage rate. ; Know how much house you can afford: Use a mortgage calculator or the 28/36 rule to determine your budget, but make sure you factor in all housing-related expenses. ; Compare mortgage types and find a lender: Research various loan options, such as conventional, government-backed or jumbo loans, and find a lender that offers the most favorable terms.
Credit · Your credit score and history are one of the most important factors that lenders consider when pre-approving you for a mortgage. Your credit score is a numerical represen ... ; Capacity · Your capacity is your ability to repay the mortgage loan. Lenders look at your income, employment, and debt to determine how much you can afford to borrow and whether y ... ; Capital · Assets · Your capital is the amount of money you have available to use for the home purchase. Lenders look at your assets, such as your bank accounts, investment accoun ...
Learn how to get pre-approved for a mortgage and navigate the homebuying process. Understand the steps, importance, & answer FAQs.
FICO Score Range, 620-639, 640-659, 660-679 ; Interest Rate*, 8.254%, 7.708%, 7.278% ; $350,000 loan, $2,630, $2,497, $2,394 ; $250,000 loan, $1,879, $1,784, $1,710