Mortgage Pre-Qualification and Pre-Approval

November 29, 2017
Buying a Home

Before you begin to seriously looking for a new homes, you should contact us to learn how to get pre-qualified and then, pre-approved for a mortgage.  


Pre-qualification is the preliminary step toward obtaining a pre-approval. It simply means running what-if scenarios like how much a home would cost with a fixed rate as opposed to an adjustable rate mortgage.

A pre-qualification is a guideline that may help you determine a general price range you can afford, but a pre-approval is a firm number based on the lender’s analysis of your credit scores, assets, debt-to-income ratios, and other financial information.


To get pre-approved, you must provide your lender with personal information including your social security number, bank statements, debts, and obligations such as child support, so she can run a credit check.

Your pre-approval is the maximum you qualify to receive, but you can certainly spend less. Consider whether your maximum mortgage payment will fit comfortably into your current budget and future plans.

Your mortgage payment should be no more than 25 to 33 percent of your monthly gross income, and your total debt-to-income ratio should be less than 38 to 40 percent of your gross income.


Staci Davis

Staci was raised on a farm in Toppenish, WA where she learned a strong work ethic from an early age. She worked on the farm, was involved in 4-H, attended school, and worked a job to pay her way through college. Staci attended and graduated from Washington State University in Pullman, WA with a major in Communications with an emphasis in Advertising. She worked as a client account manager at a number of advertising agencies that specialized in marketing, branding, media planning, and lead generation. After dedicating 7 years, she decided to pursue a career where she could excel at a rate that matched her level of work and commitment.


Staci became a licensed real estate professional in 2009 and has had great success, year after year, at a job she is proud to say she loves!  Today, she continues to utilize her college education and business experience to help each of her clients obtain their real estate goals. She specializes in marketing homes and getting them SOLD with a truly integrated marketing strategy, and also really enjoys helping buyers with one of the largest purchases of their life…a home! She is a licensed Real Estate Broker in Washington & Oregon, and is “Your Key To Real Estate Success”!

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