Which of the following will help a buyer know ahead of time the specific mortgage amount that he or she will be eligible for subject to changes in rates and terms?
A)Prequalification
B)The rent ratio
C)Leasing
D)Anchoring
E)The interest rate

Question

Quizplus · Accepted Answer

Prequalification is a process where a lender evaluates a buyer's financial information, such as income, debt, and assets, to estimate how much the buyer may be eligible to borrow for a mortgage. This helps the buyer understand the mortgage amount they might qualify for, subject to changes in rates and terms.

Which of the Following Will Help a Buyer Know Ahead