Mortgage prequalification

[Shadowfactor]

My fiance and I are thinking about buying our first house.

We haven't started to look at places yet except the internet. Will probably start looking when I return from a work trip.

Is there anyway to get some mortgage prequalifications without a hard pull being done ?

I searched using google but none of the big banks specify if it will be a HP or SP.

We just want to see what we might qualify for price wise, the rates we might get, and if it would be better to just put it in her name or my name first or a joint app.

[Anonymous]

So-Fi has soft-pull mortgage application that will tell you estimated pre-approval and what rate you may get. If you decide to move further they'll do a hard pull. Also be aware that pre-qualification doesn't really mean a whole lot unless it's underwritten, so take the 'pre-approval' with a grain of salt.

[JVille]

In order for your RE Agent to actually present an offer on a home you would like to buy you WILL need a real PreApproval letter in order for the Sellers to take your offer serious. Many agents these days won’t even show you a home without you getting a true PreQual.

[Anonymous]

On Saturday we went to the local NFCU and received a prequal, not a preapproval.  They dont pull your credit but they do ask for your monthly obligations/income to give you an idea of what you could possibly qualify for.  Obviously dependant on pulling credit, verifying income, etc.  Took about 15 mins but it gave us a good idea of what principle/interest payment would be with the different rates.

[Shadowfactor]

My best friend is going to be my realtor but we havent even contacted him about it.

We just kinda wanted to see what our options might be price wise and somewhat of a interest rate before we even decided if we wanted to actually buy a house  yet. Which is why i wanted some banks that did soft inquiries just to start to feel out what we might qualify for.

I tried to do SO FI but they dont do loans in the state I live in since I wasnt able to select my state.

Any other ideas ?

[Anonymous]

Specify pre qualification. That is the weaker of the two because it is not based on evidence and underwritten but rather the information you provide. Tell the lender or broker the exact same thing you said here and that you do not give permission for a hard pull.

You can also use some of the online mortgage calculators.

[emferrari]

SunTrust Bank will do a pre-qualification with a hard pull, but, that pre-qual is actually stronger as they do pass thru AUS first and foremost.