Found 2 blog entries tagged as pre-qualified.

Realtor.com writes, "Getting pre-approved for a mortgage before you make an offer on a house is a smart idea. Why? For one, it can help you get a handle on how much house you can afford. Pre-approval can also help you stand out from the sea of other homebuyers in a competitive housing market. In short, it ups that odds that your home-buying journey will be smooth and successful.

Here’s why mortgage pre-approval matters, and how it can give you an edge when shopping for a home.

The meaning behind a mortgage pre-approval

Mortgage pre-approval is a commitment from a lender to provide you with home financing up to a certain loan amount—basically, the stamp of approval that you have the money, credit history, and other credentials to buy a home up…

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Realtor.com writes, "while buying a home has always been a challenging milestone, today’s high interest rates have made this dream even harder to achieve.

Over the past two years, interest rates on home loans have nearly doubled from the 3% range to around 7% today. This tacks many hundreds extra onto the monthly expense of housing, stretching some homebuyers’ budgets to the breaking point. And while there are ways to lower those costs, navigating the home loan process is extremely complicated—particularly for first-time homebuyers.

“It’s very important for first-timers to do research and understand all their options before they start looking for a home,” says Cara Ameer, a real estate agent with Coldwell Banker who is licensed in California and…

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