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Starting your investing journey can be daunting. Browse our Getting Started Guides to learn about different investing strategies.

Where do I start with lending (pre-approval vs. pre-qualification)?

It’s important to talk with a lender as soon as possible, whether you’re 3 or 12 months away from purchasing a property. This will help you understand your buying power.

Building relationships is key in this business. It can help you reach your house hack goals, and give you a good reality check on your buying power.

While talking with your lender, you will want to get a pre-approval. There’s a big difference between pre-approval and pre-qualification. Pre-qualification is just a rough estimate based on high-level details, while pre-approval requires a deep dive into your history (paystubs, tax returns, credit card debt, etc.). This can reveal both good and not-so-good things, so it’s important to have a reality check.

Avoid relying solely on Google to see what you can qualify for. This is what we call “garbage in, garbage out.”

If you need a recommendation for an investment-friendly lender, consider connecting with Troy Howell at Nova Home Loans.

Contact information for Troy Howell:

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