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Even if you've not so much as picked out homes to view yet, it can be valuable to see your mortgage pro early. Why? Perhaps it is difficult to understand the way we can help even before you start to talk about prices and negotiations.
Our mortgage professionals will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. We will achieve this by considering your income and debts, your employment and residence circumstances, your funds available for a down payment, required reserves, and other financial considerations. It's short and basic; We take pride in keeping the paperwork light.
When you are considered eligible, we prove our confidence in your potential to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
When you locate the house that is right for you, and you decide to make an offer, being pre-qualified for a loan will do several things. The first is that you'll be sure what you'll be able to afford when calculating your offer.
Even more important to the current owner, your pre-qualification letter gives them certainty - as if you had arrived at their house with a big box of cash to back up the offer! They need not be concerned they're wasting their time if you won't be able to have the ability to qualify for a high enough mortgage. 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 mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your ability to back up your offer.
We help with your pre-qualification
We can help you calculate how much of a mortgage you can afford, and the amount of money you may be able to borrow, by walking you through pre-qualifying. During this process, we explore your capacity to borrow - looking at your employment, money available for down payment, debts, income, and other circumstances. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can certainly use the mortgage calculators here on our site to get an idea of how much mortgage you will be able to afford - but it's also important to meet with one of our mortgage professionals. We can walk you through your pre-qualification letter. For another thing, we may locate a different mortgage program that better fits your needs. Contact us at 3175959600 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 3175959600. Milestone Mortgage, Inc. NMLS#136714 answers pre-qualifying questions every day.