These days, everyone wants to do things online, in the comfort of their home, without having to run all over the place. Prequalifying for a mortgage is no different. And, yes, you can pre qualify for mortgage online.
For Florida and Georgia, Avrus Financial and Mortgage Services offers an online prequalification, and there are similar companies in other parts of the USA and in other countries that also offer online prequalification.
Before you head over to http://www.avrusmortgage.com/mortgage-rate-quote/prequalify-mortgage-online/ to activate your prequalification, it helps to gather together some information you will need:
- Your gross monthly income.
- Monthly debt payments, such as for car loans, credit cards and credit lines.
- The interest rate you are seeking (be realistic – you probably should leave this at the default mortgage rate quote)
- The term you are seeking, how many years until the mortgage is completely paid off.
- What percentage of the property price you will be paying as a down payment
- If you have an idea of your insurance and property tax costs, it helps also to have those ready.
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Keep in mind that this is prequalification, not preapproval. There are no guarantees at the prequalification stage, but it is very helpful to give you a realistic idea of what you can afford to buy. There is no point in visiting properties you cannot afford, wasting your time and the time of the sellers.
Prequalification also helps sellers and their agents to see that you are a serious buyer who has taken the time already to determine that you can afford to buy their house.
Once you have made an offer, you can then quickly get preapproval for the mortgage. The details might be different than those you prequalified for, partly because we have access to the latest rates and also because your credit rating, your assets and your employment history will factor into the actual mortgage rate that you qualify for. So you will need to provide more details at the preapproval stage.
Getting prequalified for a mortgage is not that difficult. You can do it in person if you prefer, or you can prequalify easily online.