The Importance of Pre-Qualification
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It's helpful to consult with your mortgage professional as soon as possible — even before you have started to consider neighborhoods. What for? It may be difficult to understand the ways in which we can help even before you begin to negotiate.
We can help determine how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by taking you through the pre-qualification process. The process outlines your finances - your debts, income, career, and down payment money, among other things. It's short and to the point; We take pride in keeping the paperwork light.
At the point you are considered eligible, we prove our confidence in your ability to qualify for a mortgage by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Armed with your pre-qualification letter, several advantages fall at your feet at the point you find the home you want to put together an offer on. First, it helps you know the amount that you are able to offer.
Having pre-qualification also will make your offer more attractive to the seller, as if you were bringing them a suitcase full of cash! They won't have to worry that that they're wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not be something for them to worry about. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
We will help you see how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through pre-qualifying. We do this by analyzing your income and debts, your employment and residence circumstances, the available funds for a down payment, required reserves, and other considerations. It's a short, thorough process with minimal risks for papercuts.
You can always use the mortgage calculators available on our site to calculate the size mortgage you'll be able to afford - but it's also important to talk with us. We can begin working on your pre-qualification letter. Then, we'll make sure we have found the best mortgage program for you. Contact us at 803-779-3638 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 803-779-3638. It's our job to answer pre-qualification questions, so we're happy to help!