Prequalification

What is prequalification?

• It lets you know a price range you can afford.
• Proves to the seller your are serious about making a purchase.
• Gives you bargaining position with the seller by proving you are financially able to purchase.
• Makes the final mortgage process go faster and easier.

What do I need to prequalify?

• Type of house you wish to purchase
• Price of the house
• Type of mortgage you prefer
• Amount of down payment you will make
• Employment history
• Financial information, including monthly income, assets and current debts
• Co-applicant information if applicable