I have recently had several friends ask whether getting pre-qualified is necessary for purchasing a house. I absolutely suggest getting pre-qualified before going out to look at houses.
Getting pre-qualified is a relatively painless first step in getting a mortgage. A lender will take a broad view of your income, debt, and assets and determine a rough estimate of the mortgage amount you can qualify for.
This is an important step and gives the buyer an idea of what price range they should be looking in for their next house. Additionally, getting pre-qualified takes very little time and indicates to potential seller’s that you are motivated and a quality candidate should you make an offer on a house.
At Wood Brothers, we have a great in-house mortgage loan officer through Gershman who can get you pre-qualified over the phone in no time at all.
If you are interested in finding out how much house you can afford, feel free to contact me for a quick response!