Plenty of buyers think that prequalifying for a home is just another speed bump on the path to home ownership. Although the entire lending process might seem like a bit of a headache, the act of simply picking up the phone (or even just writing an email) and speaking with your lender about prequalifying for a home is one of the simplest of steps that can save you months of stress and annoyance.
Prequalifying for a home can take as little as 15 minutes. It doesn't guarantee that you will be approved for a loan, nor are you formally applying for one - it simply gives you a current snapshot of your qualifying potential. Here are the top 4 reasons you should prequalify: