Buying a home in today’s marketplace is a bit intimidating.

Pre-qualification not only allows you to focus your search in the correct price range, saving a lot of wasted time and frustration, but it can also give you an edge when competing with other offers on a home that you find. If a seller is deciding between two offers–yours who has been qualified and another unqualified offer, they are much more likely to pick yours. Pre-qualification will also give you real estate listing leverage when negotiating with a seller in a non-competitive atmosphere; it essentially makes you a cash buyer.

The amount of home that you qualify for will be determined by three key factors: your down payment, your ability to real estate listings qualify for a mortgage and closing costs.

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