How can you find out how much can you borrow?
Get Pre-Qualified: Getting pre-qualified via the internet or over the telephone is usually a quick and simple process, but it does not guarantee the loan.
Get Pre-Approved: Getting pre-approved is a more in-depth, and a somewhat more lengthy process, but well worth the time and effort. Pre-approval includes a credit check, as well as verification of your income and documentation of your assets and liabilities. Pre-Approval is the superior choice for three reasons:
1. Pre-Approval ensures that you spend your time well, focusing only on the homes that fit your price range.
2. Pre-Approval improves your ability to negotiate with the seller.
3. Pre-Approval facilitates a smoother, quicker close.
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