Pre-qualification
Consists of preliminary steps for the initial loan application process. The mortgage lender will use details provided about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. This process is usually free and takes minimal time.
Mortgage Calculators
When determining your ability to qualify for a mortgage, a lender looks at your "debt-to-income" ratio. This is the percentage of your gross monthly income that you spend on housing expenses, and your consumer debt, such as car payments, credit cards, student loans, etc. Use our mortgage calculators to determine how much you can afford. Contact a mortgage consultant and get pre-approved today. |
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