Pre-Qualify for a New Home in Fayetteville NC
You might have an idea of the loan payment and mortgage you can afford. See our Mortgage Calculator. But the big question is: Will the bank agree? When you pre-qualify for a mortgage, you know in advance of your home search exactly how much a financial institution is willing to lend you. If having this knowledge in advance is important to you, and to most home buyers it’s crucial, it will make your home buying process far more efficient and much more negotiating power.
In the pre-qualification process, you will find out:
Exactly how much home or land you can afford.
How much cash you will need for the down payment.
The minimum down payment, and advantages of higher down payments.
What the bank feels you can afford for a monthly payment.