Pre Qualifying mortgage web sites??
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Are there any web sites that let you see if you pre qualify for a mortgage, and get figures like payments based on loan amount and interest rate? We want to see if we can qualify for a mortgage before we get ahead of ourselves in looking for a house. Thank you!
Pre Qualifying mortgage web sites??A website can't pre-qualify you. I mean it can but it's worthless. You'll need to go ahead and speak with a professional - which I'm guessing you are hesitant to do. Partly the media has fed us with a bunch of crap and the other part the industry really is facing some troubles. Still there is no substitute for a professional mortgage advisor.
There are websites everywhere which provide a "pre-qualification" but the truth is that is a worthless result. There are so many factors to a valid pre-qualification based on guidelines that change almost every day that it is impossible for any website to give you a pre-qualification.
For example you may not qualify for a Freddie Mac loan but you may qualify for an FHA loan or a Fannie Mae loan. Then again you may be just two "dots" away from qualifying for a really good loan but only a trained and experienced professional can really help you.
Yes they may pressure you a bit but you don't have to let them. I'm guessing you are a first time home buyer and buying your first home can definitely be "scairy" and it should be. My advice is to find a HUD approved school near you somewhere that gives a class and go take it. There is no pressure there and you'll learn stuff you never thought of -- even if you have bought a home before you'll learn new things.
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