Getting prequalified is a great first step in the mortgage process. Whether you have found the right home or are just beginning to search, a prequalification initiates the mortgage conversation with your lender. Learn what mortgage options you might have available to you as well, as which type you might be best suited for. A prequalification is not a mortgage application, but can be a beneficial tool for knowing your options in the marketplace, and is useful when it’s time to make that first offer.