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Chino Real Estate Deciding how much house you can afford Part I

By
Real Estate Agent with Chino Valley Real Estate

Before you start house hunting, you need to determine how much house you can afford, which will entail getting either prequalified or preapproved for a home loan. A real estate agent can help you find a mortgage broker to begin the process. While getting preapproved is a more in-depth process, a preapproval letter lets both real estate agents and sellers know that you're a serious shopper who means business.

What do I do to get prequalified?

A prequalification can be done online or over the phone and does not require your submitting financial documents. You will be asked to provide basic information about your finances - for instance, your household income versus your debt load. With this information, the lender will estimate what your maximum loan amount could be if you were to apply.

 

David Hood
Keller Williams Realty
Chino Hills Ca Real Estate

Office Phone: (877) 380-7992
Cell Phone: (909) 972-5569

Visit our web site Chino Real Estate

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