More often than not, the first step in the home buying process is to become prequalified. Everyone talks about it, but what does it mean to be prequalified? All in all, once you provide the first round of your information to a lender like credit reports, credit score, assets, current income etc.
After you information is collected and assessed, a lender will then inform you of your prequalified loans amounts. With this number, you have a bracket for what homes you qualify for and with this in mind you can start looking for homes to purchase and make your own.