3 - Get Pre-Approved for a Loan.
your bank, or preferably, a mortgage
broker who can "shop rates"
to ensure you the best rate for your
situation. Apply for a "Loan
Pre-Approval", which entails
a process of complete verification
of your loan application, employment,
assets, etc. This step is critical
to know exactly how much home you
can afford. Furthermore, having a
"Loan Pre-Approval" in hand
will surely strengthen your offer
on any property!
note that a "Loan Pre-Qualification"
is usually nothing more than a letter
from a lender indicating what loan
you would qualify for based upon a
person's financial claims. It is un-verified
and usually is not worth the paper
it is printed on!)
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