If you wish to pre-qualify for a mortgage, you will have to meet with a lender such as a local bank or mortgage company, or fill out a form from an online lender such as . They will need to know such things as your income, employment history, assets, existing debts, etc. Then they will determine how large a mortgage you qualify for. This helps you look for a house because you will know how much you can afford, and it shows potential sellers that you are a serious buyer. This service might be free, and the lender should provide you with a letter of pre-qualification.
Remember, pre-qualification is not the same as pre-approval. Pre-qualification is a preliminary estimate of how much you can afford but the amount is not guaranteed. It is only an estimate. Pre-approval, on the other hand, is a more thorough and official process. You can get a pre-approval letter which states that you are already pre-appoved for a certain amount. This makes getting the actual mortgage easier since much of the paperwork is already done.
You may wish to get pre-qualified first to help you hunt for a home. Then get pre-approved as you get closer to actually buying one.
Use the link below to get mortgage quotes from several companies: