mortgage rate: Pre-qualified or Pre-approved?
- 11/26/09 06:58 AM
What does being pre-qualified or pre-approved for a mortgage mean to a buyer? There are differences between being pre-qualified or pre-approved for a mortgage and it can affect your ability as a home buyer, as well as the transaction itself. Pre-qualifying for a mortgage typically doesn't include an analysis of your credit history or an in-depth look at your ability to buy a home. You can actually pre-qualify yourself for a mortgage by taking a general look at your income and expenses and plug them in to a total debt-to-income ratio formula. Here is a link to a calculator to help … (6 comments)
(formerly the Adoxographist's Blog)
...skilled writing about an unimportant subject, or is that unskilled writing about an important subject?
Well I don't know so as things unfold please judge for yourself...
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John Grasty is a REALTOR® serving the Tri-Cities (Coquitlam - Port Coquitlam - Port Moody) real estate market.
Please check out John's website: http://www.RealEstateEvolved.com
What does being pre-qualified or pre-approved for a mortgage mean to a buyer?
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