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Christine Moran Notary Public, Realtor and Home Stager
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413-567-3361
413-519-9944
Christine.Moran@
realliving.com
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What's Your Home Worth?
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Mortgage Center
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The answer is yes. You don't want to waste your time, your agent's time, or the seller's time looking at homes that you can't afford.

What does Get Pre Qualified for a Mortgage mean?

     One of the best things you can do for yourself if you are looking to buy a new home is to get pre-qualified. Getting pre-qualified tells you approximately how much home you can afford to buy based on your credit, income, and assets. You might find that you can buy more of a home than you really want to pay in a mortgage payment. The other might be true in that you find that you do not qualify for as high of a mortgage payment as you think you can make.

Pick a Loan Officer

    Since getting a mortgage is a very important financial decision you need to make sure that you are working with someone you feel you can trust.  You can go anwhere for your mortgage once you find the home you like, but usually the bank you do your business with is a good place to start.

What Do I Learn When I Pre Qualify?

     Once you know what you can afford you will know the sales price range of the homes you can look at. This step takes about 10-15 minutes depending on how much you have to say about your situation. Once you are pre qualified you will know:

  • What your approximately monthly house payment will be

  • The price range of the home you can purchase

  • How much down payment, if any, that you will need or want to put down

  • What are your approximate closing costs



  • That you can confidently go out and search for homes and put in an offer if you want to

  • What kind of loan program that might be good for you based on your wants, needs, and desires

  • What should you expect to happen once your home purchase offer has been expected

     When you find a mortgage loan officer to pre qualify you make sure you also discuss some of the following items if they apply to you:

  • My time frame for wanting to move

  • What are your future plans

  • Your short and long term financial goals - your mortgage can play a very big role in you reaching your goals

  • Do you already have a house in mind

  • How important is the interest rate versus saving money upfront