What does prequalification mean for mortgage applicants?

Prequalification provides you with an estimate of how much you can expect to borrow to finance your home. nesto – as your lender – will conduct a preliminary assessment of your financial situation to determine how much they’re comfortable loaning you. Your prequalification can be granted fairly quickly, there is generally no cost to you, it doesn’t affect your credit score and can be helpful when it comes time to make an offer. It also provides you with confidence that you’re searching for an affordable home.