Get Pre-Qualified

How to Get Pre-Qualified For a Home Loan

When considering buying a home, you may choose to get pre-qualified for a mortgage to estimate how much you qualify to borrow before beginning the mortgage application or pre-approval process. Start by answering a few questions to tell us a little about your loan requirements and the home you want to buy. Your answers will help us find you a lender who can assist with the mortgage pre-qualification process. Here is how the process generally works:

Talk to a Lender

At Rustic Pines Realty, we work with a team of mortgage brokers who are experts in their field, handling thousands of transactions per year. The first step is to meet with them and get a clear view of what you can afford. This will take into account the expenses of owning and operating a home as well as current and future interest rates.

Provide a Financial Overview

Once you have found a lender, they will likely ask for some basic information about your income, debts and assets. The financial information is typically self-reported, which means the lender doesn't verify it. However, some lenders may run a soft credit check. Be honest about the information you provide, so you receive a more accurate home loan estimate from the lender.

Receive a Pre-Qualification Letter

If you meet the lender's guidelines, they will issue you a pre-qualification letter with the estimated home loan amount they're willing to let you borrow. Keep in mind, pre-qualification is not a guarantee of a loan, but it is a great way to see which types of loans are available to you and how much you may qualify for.