How to Get Pre-Approved for a Mortgage

Getting pre-approved for a mortgage makes you a more serious homebuyer candidate. In this episode, I will talk about the difference between pre-qualification and pre-approval. Preapproval is the next step if you get a thumbs up during pre-qualification. During the mortgage preapproval process, a lender pulls your credit report and reviews documents to verify your income, assets, and debts. If you’re confident about your credit and financial readiness to buy a home and you’re ready to start shopping, then you might skip the pre-qualification step and go straight to preapproval.

Debt to Income Ratio Calculator: https://www.nerdwallet.com/blog/mortgages/debt-to-income-ratio-calculator/

Source: https://www.nerdwallet.com/article/mortgages/how-to-get-a-mortgage-preapproval & https://www.rocketmortgage.com/learn/mortgage-preapproval

Intro Music: Louie Zong - bread frenzy!
Outro Music: Louie Zong - end credits