Posted on: 06th Jul, 2010 03:07 pm
I was informed by a realitor that I need to be prequalified prior to looking for property. How do I do this?
You'd contact a mortgage lender or mortgage broker and go over your situation with them top to bottom, they will ask your questions pertaining to your income, monthly debts, credit score and what is on your credit report, the sales price range you are looking to buy in, how much money you have and of that money how much do you want to put as a down payment, and what type of monthly payment do you feel comfortable with.