Why Pre-Qualification is Important
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It can be valuable to see a mortgage loan pro first, even if you haven't decided the kind of home to search for. What for? If you don't know yet how much house you need to qualify for, what can we help you with?
We can help you determine the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. During the process, we explore your capacity to borrow - looking at your job, available money for down payment, debt, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
Once you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which documents the fact that we are helping you to find the ideal loan program to meet your needs and that we're confident you'll qualify for a mortgage loan for up to a certain amount.
Power in the Pre-Qual
Several beneifits open to you after you have found your dream house, and have pre-qualification. The first is that you'll know the amount you'll be able to afford when calculating your offer.
Even more important to the seller of the home, your pre-qualification gives them confidence - as if you had come to their house with a bag of cash to back up the offer! They will not have to wonder if they are wasting their time if you can't be able to qualify for a high enough mortgage loan. The seller of the home 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 the necessary mortgage loan amount won't be something for them to lose sleep over. You have the ability to back your offer up.
We can help you pre-qualify
We can help you see how much of a mortgage you can afford, and the amount of money you will be able to borrow, by walking you through the pre-qualification process. In this process, we determine your borrowing power - analyzing your earning status, money available for down payment, existing debt, income, and other circumstances. It's short and to the point; and we take pride in keeping the paperwork to a minimum.
One on one
It's important to sit down and meet with us, even though you are free to also try the helpful mortgage calculators on our website. For one thing, you'll want a Pre-Qualification Letter! Then, we'll make sure we have chosen the right mortgage program for you. 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.