You want to buy the house of your dreams but where do you start? Well, negotiating for a house if a lot easier to do when you have a check for the full amount in your back pocket! That is essentially what you have when you are pre-qualified for a mortgage. Based on your financial strength, a lender will give you a firm commitment on a loan for a certain amount even though you haven't yet identified a specific property. Therefore, the first thing you want to do is get a pre-qualified for a specific amount that you will be able to spend on your next house. Once you are pre-qualified, the lender will give you a pre-approval letter stating that you are pre-qualified for that specific amount that you can take with you when you go out house hunting.

   You can go house hunting with confidence, knowing that if you find one within the amount of your pre-qualification, you will get financing if you decide to buy it. Not to mention when it come time to negotiate for the home you have fallen in love with, you're in much better position because the seller knows you can get the financing needed to buy their house.

Guardian Home Mortgage Corporation