Can A Home Buyer Apply For A Mortgage Or Loan Before Finding A Property To Buy?

Absolutely and usually recommended! The best time to look for a mortgage loan is before starting to look for a house. This way the buyer will know how much money he or she can borrow and how much house they can afford.

Having a pre-approved mortgage can put a homebuyer in a strong position when negotiating the purchase of a property.

When applying for mortgage pre-approval consideration is giving to personal information such as income, debt and credit history.

This information is used to determine the maximum loan amount the buyer will qualify for in the pre-approval mortgage process.