When to Talk to a Mortgage Pro About Pre-Qualification
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It's valuable to visit with a mortgage professional early, even before you've decided what sort of home you hope to find. What for? Maybe it is hard to understand how we can help even before you start to calculate your offer.
When we pre-qualify you, we help you decide the amount in mortgage payments you can fit in your budget, and the size of loan you will qualify for. We will accomplish this by reviewing your debts and income, your work and housing situations, your available funds for down payment, required reserves, and other considerations. It is a short, thorough process with minimal risks for papercuts.
Once you qualify, we give you 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 ideal loan to meet your needs and that we're confident you will qualify for a loan up to a specific amount.
Several beneifits open to you after you find your new house, and have pre-qualification power. First of all, you have some concrete numbers in mind, as the amount you can borrow.
Of greater importance to the existing home owner, your being pre-qualified is like your having entered their front door with a bag full of money to make the deal! They will not have to worry that that they're wasting their time if you will not be able to qualify for a big enough mortgage. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed loan amount will not be something for them to be concerned about. You'll have the influence of a buyer ready to make the deal on the spot!
We can help you pre-qualify
When we pre-qualify you, we help you determine the amount you can afford in monthly mortgage payments you can afford, and the size of loan you can qualify for. The process outlines your finances - your debts, income, career, cash available for down payment, among other things. It's quick and basic; and we take pride in keeping the paperwork light.
One on one
It's important to sit down and talk with us, even though you are welcome to also try the helpful mortgage loan calculator tools on this website. We can work toward your pre-qualification letter. For another thing, we might be able to locate a different mortgage option that better fits your needs. We're waiting to hear from you: call us at 6507631924.
Have questions about pre-qualifying? Call us at 6507631924. We answer pre-qualification questions every day.