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It can be helpful to see a mortgage professional first, even before you have decided what type of house you hope to find. Why? What can we do for you if you haven't negotiated a purchase amount, and don't know yet the amount you need to borrow?
We can help you calculate how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through the pre-qualification process. During this process, we determine your ability to borrow - looking at your earning status, money available for down payment, existing debt, income, and other circumstances. We will ask for a minimum amount of paperwork, with a short,basic process.
Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which documents the fact that we are helping you to find the right loan to fit your financial needs and that we're confident you'll qualify for a loan for up to a specific amount.
Armed with your pre-qualification letter, a number of advantages fall at your feet when you locate the home you want to make an offer for. The first is that you'll know the amount you can afford when determining the offer.
Of greater importance to the existing home owner, your pre-qualification is like your having entered their house with a bag full of money ready to make the deal! They need not worry that that they're wasting their time if you do not be able to qualify for a big enough mortgage. The seller won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to fret over. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
When we pre-qualify you, we help you figure out the amount you can afford in monthly mortgage payments you can afford, and the loan amount you will qualify for. In the process, we explore your ability to borrow - reviewing your employment, money available for down payment, debts, income, and other circumstances. We will require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
While you are encouraged to use our mortgage calculators on our website, it will be essential to meet with us. That way, we will help you get your pre-qualification letter. For another thing, we might be able to locate a different mortgage option that better fits your needs. Let us get you started: Contact us at 3175959600.
Have questions about pre-qualifying? Call us at 3175959600. We answer pre-qualification questions every day.