Why Pre-Qualification is Important
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Even if you've not narrowed down houses to visit yet, it can be valuable to see your mortgage professional first. What for? How can we help if you haven't made your offer, and do not yet know the amount you want to borrow?
We Can Help You Pre-Qualify
We can help determine 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 debts and income, your work and residence situations, your funds available for down payment, required reserves, and some other things. It's quick and to the point; We take pride in keeping the paperwork to a minimum.
When you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that states that we are helping you to find the right mortgage loan to meet your financial needs and that we're confident you will qualify for a loan for up to a certain amount.
Power in the Pre-Qual
After you locate the house that is ideal for you, and you decide to make an offer, being pre-qualified for a mortgage loan will do several things. The first is that you'll know what you'll be able to afford when calculating your offer.
More important to the home seller, your pre-qualification is like your having entered their house with a bag full of money ready to make the deal! They won't have to be concerned that they're wasting their time if you don't be able to qualify for a big enough mortgage. The seller won't be concerned that he can't trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount won't be something for them to lose sleep over. They have a virtual guarantee that they can trust your buying power.
We can help you pre-qualify
Our mortgage professionals can help you find out how much of a loan you can qualify for and the mortgage payment amount you can afford by helping you pre-qualify. We will do this by analyzing your debts and income, your employment and residence situations, your funds available for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
It is important for you to sit down and talk with us, even though you are free to also use the helpful mortgage loan calculators on this website. That way, we'll help you get your pre-qualification letter. Then, we will make sure we have found the ideal mortgage loan program for your situation. Let us get you started: Contact us at (317) 595-9600.
Have questions about pre-qualifying? Call us at (317) 595-9600. Milestone Mortgage, Inc. answers pre-qualifying questions every day.