Why Get Pre-Qualified?

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To calculate how much mortgage you'll be able to prequalify for, lenders take into account your credit profile, annual income, and expected loan term and interest rate, as well as your monthly debt payments and potential home-related expenses.  Here is a good Pre-Qualification Estimator that will give you a first look at your financial ability to purchase a home:

The last step in buying or selling a home is settling up on all of the costs associated with the transaction.  Costs are allocated to the buyer and seller, including real estate commissions, mortgage costs, title fees, insurance and so on.  For a preview of what you can expect in the way of closing costs and monthly payments, check out our Closing Cost Calculators: