Things to consider when choosing a lender

Getting prequalified is one of the very first steps in the home-buying process — and one of the most important. It sets the foundation for your entire search, determines what you can afford, and shows sellers you’re serious.

Just as important, the lender you work with should be willing to take the time to talk with you, answer your questions, and explain your options before ever pulling your credit. A quality conversation should always come before a credit check.

But not all prequalifications are created equal. Here are three key things to look for when you’re getting prequalified for a mortgage.

1. Make Sure It’s a True Pre-Approval, Not Just an Estimate

There is a big difference between a quick online estimate and a true pre-approval. A pre-qualification is often based on basic information you provide, while a pre-approval requires the lender to actually review your financial documents.

A strong pre-approval should include:
• Verification of your income
• A review of your credit
• A look at your assets and debts
• A specific approved loan amount

Sellers take pre-approvals much more seriously than generic estimates. Having one in hand makes your offer stronger and gives you a real advantage in competitive situations.

2. Your Lender Should Be Willing to Talk to You Before Pulling Your Credit

A credit pull is important, but a quality lender shouldn’t rush into it without first making sure you understand the process. They should be willing to have a conversation, answer your questions, and explain your options before running your credit.

This is your chance to ask about:
• Loan programs and down payment options
• Credit requirements
• Estimated interest rates
• Closing costs and timelines

If a lender isn’t willing to take the time to educate you upfront, that can be a red flag. Clear communication early on usually leads to a smoother experience later.

3. Understand the Full Monthly Payment (Not Just the Loan Amount)

Many buyers focus only on the purchase price they are approved for, but your monthly payment is what really matters in everyday life.

When getting prequalified, ask your lender to clearly explain:
• Principal and interest
• Property taxes
• Homeowner’s insurance
• Possible HOA fees
• Estimated utilities

This gives you a realistic picture of what homeownership will actually look like for your budget. Being comfortable with the monthly payment is just as important as being approved for the total loan amount.

Final Thoughts

Getting prequalified isn’t just about getting a number — it’s about working with someone who educates you, respects your finances, and sets you up for success. Take your time, ask questions, and make sure you feel confident before moving forward.

If you’re thinking about getting started, I’m happy to connect you with trusted lenders and guide you every step of the way.