Home loan prequalification is a casual assessment of your creditworthiness and just how much house you are able to afford. Prequalification shows whether you meet minimal demands for a financial loan and just how big that loan may be. Prequalification is a step that is important those who aren’t sure whether they’re financially ready for homeownership. If you’re confident in your money or have been pre-qualified, you might would like to get preapproved rather.
What's home loan prequalification?
Prequalification is exactly just how lenders determine if you fit the essential criteria that are financial a mortgage loan.