The Importance of Pre-Qualification
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It's helpful to consult with your mortgage loan professional early — even before you have started to consider neighborhoods. Why? How can we help you if you haven't negotiated an amount, and don't yet know the amount you need to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you decide how much of a monthly payment you can afford, and the loan amount you will qualify for. In this process, we explore your borrowing power - analyzing your earning status, money available for down payment, debt, income, and other areas. We will ask for a minimum amount of paperwork, with a short,basic process.
When you are determined to be eligible, we will prove our confidence in your ability to qualify for a loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
After you find a house that is best for you, and you decide to make an offer, being pre-qualified for a loan will do several things. First, you have some general numbers in mind, as the total you will qualify for on your loan.
Having pre-qualification can also make your offer look even better to the seller, as if you were bringing them a suitcase of cash! They won't need to be concerned they're wasting their time if you can't have the ability to qualify for a high enough mortgage loan. The seller of the home won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
Our mortgage professionals can help you find out how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. We do this by considering your debts and income, your employment and residence situations, the available funds for down payment, required reserves, and other considerations. It's a short, thorough process with minimal risks for papercuts.
Face to Face
You can always use the mortgage calculators on this website to calculate the size mortgage you will be able to afford - but it's also valuable to meet with one of our mortgage professionals. For one thing, you will need a Pre-Qualification Letter! For another thing, we might locate a different mortgage option that is a better fit for you. We are eager to hear from you: call us at 3175959600.
Have questions about pre-qualifying? Call us at 3175959600. It's our job to answer pre-qualification questions, so we're happy to help!