Why it's Important to Pre-Qualify
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It can be valuable to visit with a mortgage loan pro first, even if you haven't decided what type of home you hope to find. What for? How can we help before you have negotiated a purchase amount, and don't yet know the amount you want to borrow?
We Will Help You Pre-Qualify
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. In the process, we determine your borrowing power - looking at your job, available money for down payment, existing debt, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
Once you are determined to be eligible, we prove our confidence in your ability to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
With your pre-qualification letter, several advantages are yours at the point you locate the house you want to make an offer on. First, it helps you know the amount that you are able to offer.
More important to the seller, your pre-qualification is like your having entered their house with a bag full of cash to purchase their house! They will not need to worry that that they are wasting their time if you don't be able to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't be something for them to worry about. They have a virtual guarantee to trust your ability to back up your offer.
We help with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in monthly payments you can fit in your budget, and the loan amount you can qualify for. We achieve this by considering your income and debts, your employment and residence situations, the available funds for a down payment, required reserves, and other considerations. We as for a minimum amount of paperwork, and avoid a lengthy process.
It is vital to sit down and meet with us, even though you are welcome to also try the helpful mortgage calculators on this website. That way, we'll help you get your pre-qualification letter. Next, we can consider your mortgage choices to be sure you are in the best one. Contact us at 803-779-3638 to get started.
Have questions about pre-qualifying? Call us at 803-779-3638. Columbia Mortgage Corp answers pre-qualifying questions every day.