Why it's Important to Pre-Qualify
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Even if you've not so much as narrowed down homes to view yet, it's advantageous to visit with your mortgage loan professional first. Why? If you do not yet know how much house you need to qualify for, how can we help?
When we pre-qualify you, we help you determine the amount in monthly payments you can afford, and how much we of a loan you will qualify for. We will do this by reviewing your income and debts, your employment and residence situations, your funds available for down payment, required reserves, and other considerations. It is a quick, thorough process with minimal risks for papercuts.
After you qualify, will present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are partnering with you to find the best mortgage loan to fit your financial needs and that we are confident you will qualify for a mortgage for up to a specific amount.
After you locate the house that is best for you, and you want to make an offer, being pre-qualified for a mortgage loan will do a number of things. First, it helps you know the amount that you're able to offer.
Of greater importance to the current home owner, your pre-qualification is like your having entered their house with a bag full of cash ready to make the deal! They will not have to wonder if they have been wasting their time if you do not be able to qualify for a big enough mortgage loan. The seller of the home won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not be something for them to fret over. You have the capability to back up your offer.
We can help you pre-qualify
We can help you calculate how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through pre-qualifying. We achieve this by analyzing your income and debts, your work and residence situations, the available funds for down payment, required reserves, and some other things. It's short and to the point; and we keep the paperwork to a minimum.
One on one
It is important to sit down and meet with us, even though you are free to also utilize the helpful mortgage calculators on this site. For one thing, you'll need a Pre-Qualification Letter! For another thing, we may locate a different mortgage choice that better fits your needs. Let us get you started: Contact us at 8037793638.
Have questions about pre-qualifying? Call us at 8037793638. We answer pre-qualification questions every day.