In my last article I explored some of the secrets to accurately calculating your income for use with online mortgage calculators Specifically we discussed the “how much loan do I qualify for” mortgage calculator

Over the years I have originated many VA loans and learned that whenever I am working with a repeat VA borrower, it is worthwhile to give the Veteran a cash flow analysis of both a $0 or minimum down payment option and a 5% down option Why would I do this

Many sites offer a variety of mortgage loan calculators for use by web surfers and visitors There are monthly payment calculators, rent versus buy calculators, refinance calculators and on and on

So if you have been shopping for a home, chances are you have submitted information that has been used in "pre-qualifying" you for a home loan Pre-qualification (also sometimes called a pre approval) is a term used in mortgage loan circles meaning that a loan officer has taken some information from you, the potential borrower, and made a tentative decision, but not verified much of, if any of it

In a time that seems so long ago, when you applied for a mortgage, it was assumed you would go to your local bank -- the institution where you kept your savings and checking accounts – to also obtain your home loan I can't exactly put my finger on the time peiod where this changed but we are now in a more modern era and the process is usually quite different

So if you have been shopping for a home, chances are you have submitted information that has been used in "pre-qualifying" you for a home loan Pre-qualification (also sometimes called a pre approval) is a term used in mortgage loan circles meaning that a loan officer has taken some information from you, the potential borrower, and made a tentative decision, but not verified much of, if any of it