Question

Jane and Smith are considering the purchase of a home in downtown Minneapolis. They approached Larson’s Mortgagers Inc. to arrange for the financing needed for their home. This process of arranging with a mortgage lender in advance of buying a home is called _____.

Answer 1

The answer is prequalification. This is a process or arranging with a mortgage lender in means of buying a home. It is an initial step and an essential step of having to manage and organize the financial needs that you need in order to buy a home.