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buying a new house

Home Loan - Pre-Approval Vs. Pre-Qualification

The Importance of a Pre-qualification when House Hunting

Posted On: May 31, 2023 by Prevail Bank in: Home Loans

 

House hunting can be one of the most exciting times in your life. Searching for the home with the perfect back yard, one with just the right kitchen counter space, or one where you can see your children or grandchildren making memories is both exhilarating and sometimes perplexing. How much house can you afford? After all, it’s probably one of the biggest investments you’ll make. So how can a mortgage pre-qualification set your mind at ease? Let’s see how.

What...
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Tags: buying a new house, Home Loans, Pre-Approval, Pre-Approval Vs. Pre-qualification, Pre-Qualification

Home Loans... More than just a rate.

Home Loans... More than just a rate.

Posted On: January 4, 2021 by Prevail Bank in: Home Loans

What is a mortgage loan rate?

Rate or interest is simply a percentage of the loan a lender charges to borrow money. This figure is beneficial to know so you can compare the cost of different lenders. To make the comparison easier, lenders must also inform you about how that interest rate will affect your payments over an entire year. This interest is known as the Annual Percentage Rate or APR, and it also includes any fees or additional costs associated with the loan.

Lower isn’t...
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Tags: buying a new house, home loan, Mortgage Lender, mortgage rates, Mortgage Tips

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