You might have an idea of the payment and mortgage you can afford. But will the bank feel otherwise? It's always best to prequalify for a mortgage so you know exactly how much a financial institution is willing to lend you.
In the prequalification process, you will find out:
- Exactly how much home you can afford.
- How much cash you will need for the down payment.
- The minimum down payment, and advantages of higher down payments.
- What the bank feels you can afford for a monthly payment.
I can provide several local and national lending resources. It is a quick and easy process for you to contact them with your personal information and receive loan prequalification. Please contact me and I will give you several lenders to call for your prequalification.