Pre Qualify For The Best Mortgage Rates Below!

We will review the information below and send you a pre-qualification form for you to show to your realtor or homeowner.  
We can close most loans in 21 Days!

Someone from CambridgeHomeLoan.com will be contacting you shortly. 
CambridgeHomeLoan.com will be with you every step of the way to help you with your financing needs.



Fill out the form above and one of our mortgage loan experts will get back with you shortly.

800-826-5077

FHA Loans, VA Home Loans, USDA Loans, Zero Down Home Loans, Fix and Flip, Jumbo Loans, Super Jumbo Home Loans, Commercial Loans, Home Loans for Foreign Nationals, Statement Only Home Loans, Asset Only, Business Statement Only, Construction, Commercial ...

A Home Loan for All Needs.

How Much of a House Can I Afford -Affordability Calculator

Affordability Calculator

How Much Income Do I Need by CambridgeHomeLoan.com


What is a Mortgage Pre-Qualification?

 Mortgage prequalification is an informal evaluation by a qualified mortgage professional of your creditworthiness and how much of a home you can afford to buy. Prequalification is an indication of whether you meet the minimum requirements for a home loan and how big that loan may be.

Prequalification is a very important step for those who are not sure if they’re financially ready for homeownership or if they would like to give their real estate professional more ammunition when shopping for a home. 

If you’re confident in your finances or have already been pre-qualified, you might want to get pre-approved instead, which is a complete underwriting of your loan package in advance showing the homeowner that you are qualified and ready to make a purchase.

To calculate how much mortgage you’ll be able to prequalify for, we 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.

 

What is a Mortgage Pre-Qualification?

What is a Mortgage Pre-Approval?

A mortgage pre-approval is a letter from a lender that indicates how much of a home loan you can be qualified for, this is more than a pre-qualification letter and is typically not necessary when first searching for a home. It is however a stronger indication to a home seller that you are ready and able to purchase a home at a specified price.  

A mortgage pre-approval letter is issued after the lender has evaluated your financial history.  This includes pulling your credit report and your FICO score. With a mortgage pre-approval letter, you can find a home that you can afford while at the same time showing the seller that you are a serious buyer making pricing negotiations easier.

What is a mortgage pre-approval and why does it matter?

A mortgage preapproval letter can put you ahead of other buyers that may be interested in the same home as you. Your offer will be taken more seriously than others.

The information for the underwriting of a pre-approval is the same as the documentation that you will be submitting for your loan. You can start your application here.


Expert Mortgage Home Loan Advice

house hacking

House Hacking 101

“House Hacking” has been a trending topic within the real estate social media world – making its way to, debatably, be the number one suggestion

Read More »
home loan

About the FHA New 40-Year Loan

Earlier this month the Federal Housing Administration (FHA) announced that they will be establishing a 40-year financing option to reduce monthly mortgage payments for those

Read More »