Prequalify for Home Loan: What Lenders Won’t Tell You
Do you know what can help or hurt your mortgage chances? When you want to prequalify for a home loan , knowing what lenders don't tell you is key. Getting prequalified seems easy, but it's not. Lenders look at many things, some you might not see coming. Knowing these can help you through the mortgage prequalification better. Key Takeaways Understand the importance of prequalification in the home buying process. Learn what lenders consider when evaluating your mortgage application. Discover the hidden factors that can impact your mortgage approval. Get insights into how to improve your chances of getting prequalified. Understand the difference between prequalification and preapproval. The Truth Behind Mortgage Prequalification Before you start looking at homes, it's important to know about mortgage prequalification . This first step can really help you get a mortgage. What Prequalification Actually Means to Lenders To lenders, prequalification shows if you can handle a loa...