Why Pre-Qualification is Important
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It is helpful to bring in your mortgage loan professional as soon as possible — even before you have started narrowing down neighborhoods. What for? It may be hard to fathom the ways in which we could help even before you start to talk about prices and negotiations.
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. In this process, we calculate your borrowing power - analyzing your employment, money available for down payment, existing debt, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
At the point you are considered eligible, we document our confidence in your ability to qualify for a loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Once you locate a house that is best for you, and you want to put together an offer, being pre-qualified for a mortgage loan will do a couple of things. First of all, you have some definite numbers in mind, as the amount you will qualify for on your mortgage loan.
Even more important to the seller of the house, your pre-qualification letter gives them certainty - as if you'd entered their home with a bag of cash to make the offer! They will not have to worry that they have been wasting their time if you do not have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't cause them concern. They have a virtual guarantee that they can trust your buying power.
We help with your pre-qualification
Our mortgage professionals will help you calculate how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. This process takes you through your finances - your debt, income, career, cash available for down payment, among other things. We will ask for a minimum amount of paperwork, with a quick process.
Face to Face
It's important for you to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage loan calculators on this website. We can walk you through your pre-qualification letter. For another thing, we could be able to find a different mortgage choice that is a better fit for you. Let us help you get started: Contact us at 8037793638.
Have questions about pre-qualifying? Call us at 8037793638. It's our job to answer pre-qualification questions, so we're happy to help!