|
"Prequalification"
occurs before the loan process actually begins. The
lender gathers information about your income and debts
and makes a financial determination about how much house
you may be able to afford.
It's a good idea to know how expensive a home you can
afford before you start shopping for one. If you are
refinancing the loan on your existing home, then the
prequalification process should help you decide whether
refinancing is a good idea for you.
|
