Pre-approval Pre-qualification Principal 
Redfin
JULY 30, 2025
A shorter mortgage term will result in a higher monthly payment since you’ll be paying off the principal balance faster. With a longer mortgage term, you’ll have a lower monthly payment because the principal is stretched over more years. Should I get pre-qualified or pre-approved for a mortgage?
Redfin
JULY 30, 2025
Key takeaways: First-time homebuyer: Anyone who hasn’t owned a primary residence in the past three years Common first-time homebuyer qualifications: Credit score, debt-to-income ratio, down payment, income limits, employment history, purchase limits, homebuyer education Buying your first home? Let’s get started. Generally, no.
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Redfin
JUNE 13, 2025
rate, financing a $400,000 home with a typical 20% down payment, your monthly principal and interest would run about $2,050—compared to roughly $1,435 at a 4% rate (all else being equal). Proof of income and employment: To approve your loan, lenders will review your income and financial stability. Example cost impact: At a 6.8%
Marco Santarelli
JUNE 28, 2025
This amount includes principal, interest, property tax, and homeowners insurance, typical of fixed monthly payments. It's essential to factor in that for larger loan amounts, many lenders may require a larger down payment or stricter qualification criteria.
The Mortgage Report
JULY 1, 2025
Getting Pre-Approved Down Payment Assistance Buying With Low Credit Buying With Low Income Buying With A Disability Who Has The Best Mortgage Rates? How Much Home Can I Afford? Also, the debt-to-income requirements are more lenient, typically allowing up to a 57% DTI,” Erickson points out. Create a realistic budget. Go lender shopping.
Housing Wire
DECEMBER 29, 2023
With so many approved, online options to choose from, we’ve pinpointed the best online real estate courses in New York using criteria that matter most to you: flexibility to fit your schedule, a price that fits your budget, and a course that’ll prepare you to ace the exam and start your new career with confidence and industry savvy.
Lighter Side of Real Estate
FEBRUARY 2, 2023
Get Pre-approved Ahead of Time You should always get pre-approved before you actually start looking at homes you want to buy, but many people don’t. But beyond that, getting pre-approved ahead of time is a good chance to speak to a few mortgage professionals and get a feel for them, which leads to… 2.
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