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How do I know if I can get a loan?
- Answer: Use our simple mortgage calculators to see how much
mortgage you could pay - that's a good start. If the amount you can afford
is significantly less than the cost of homes that interest you, then you
might want to wait awhile longer. But before you give up, why don't you
contact a real estate broker or a HUD-funded housing counseling agency? They
will help you evaluate your loan potential. A broker will know what kinds of
mortgages the lenders are offering and can help you choose a lender with a
program that might be right for you. Another good idea is to get
pre-qualified for a loan. That means you go to a lender and apply for a
mortgage before you actually start looking for a home. Then you'll know
exactly how much you can afford to spend, and it will speed the process once
you do find the home of your dreams.
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