Pre-qualifying for a loan

If you are thinking about buying a house in the near future, you may want to talk with a mortgage lender about pre-qualifying for a loan. When you pre-qualify, you give the lender all the information you would need to apply for a loan. The lender will look at your job history and income and then calculate the approximate size of mortgage for which you would qualify. If you are already pre-qualified for a loan, you will have a good idea what prices of houses you will be able to afford. This can be very helpful when you are looking for a house and may help the loan application process go more smoothly if you find a house you would like to buy.