It is the process of arranging with a mortgage lender, in advance of buying a home, to obtain the amount of mortgage financing the lender deems affordable to home buyer.

The correct answer is B. Prequalification. See the full explanation below for the reasoning.

Investment Management

Question

Options

AMultiple listing service
BPrequalification
CEarnest money deposit
DContingency clause

How the community answered

(65 responses)

A
6% (4)
B
82% (53)
C
2% (1)
D
11% (7)

Topics

#mortgage prequalification#home buying process#mortgage affordability#lender approval

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