Real estate blog entries tagged with mortgage calculator preapproval homes buyers mortgages by Jason Kotar (Kotar Associates)

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Home : Blogs : Jason Kotar : Jason Kotar's Blog : Tag "mortgage calculator preapproval homes buyers mortgages"

mortgage calculator preapproval homes buyers mortgages: Setting False Expectations - 09/08/09 10:41 AM

One of the key elements in the home buying process is the buyer obtaining a mortgage pre-approval letter from a lender. Today, many prospective homebuyers go online to a website of a lender or real estate professional and use a "mortgage calculator" to tell them how much home they can purchase. The problem is that without knowing their credit score and performing a detailed analysis of their income, assets, work history and other factors, the results will be inaccurate. Defenders of these calculators say that they give the buyer a "ballpark" estimate of how much home they can buy. In today's … (6 comments)

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Jason Kotar

Fort Lauderdale, FL

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