01/27/2026
Here’s what I wish more people knew before they ever talked to a mortgage loan officer.
I average about ten loan consultations every single week.
And almost everyone comes in thinking the process is way more complicated than it actually is.
The first thing to understand is the difference between prequalification and preapproval.
Prequalification is a quick estimate based on what you tell us.
Preapproval is when we actually verify your income assets and credit so you can confidently shop for a home.
Next is what I call the three pillars of lending.
Number one is your debt to income ratio which is simply how much monthly debt you have compared to your income.
Number two is funds to close which includes your down payment and closing costs.
And number three is your credit profile which affects both your approval and your interest rate.
Then we talk about the timeline.
From getting preapproved to shopping for homes making an offer going under contract and finally closing.
Nothing about this should feel rushed or confusing if it’s explained the right way.
Your loan officer should be walking you through every step so there are no surprises.
If you’re thinking about buying a home soon this is the stuff you should understand before you even start looking.
