Why Pre-Qualification is Important
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It is important to visit with a mortgage loan pro early, even before you've determined what type of house you hope to find. Why? When you do not yet know how much home you want to qualify for, how could we help?
We will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. The process outlines your finances - your debt, income, employment, and cash available for down payment, among other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that states that we are working with you to find the best mortgage to fit your needs and that we are confident you'll qualify for a mortgage for a specific amount.
When you locate the house that is right for you, and you want 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 mortgage loan.
Even more important to the seller of the home, your pre-qualification status gives them confidence - as if you had entered their home with a big box of cash to back up the offer! They will not have to be concerned that they have been wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to be concerned about. You have the capability to back up your offer.
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 loan amount you will qualify for. We achieve this by considering your debts and income, your employment and residence situations, your available funds for down payment, required reserves, and other financial considerations. It's quick and to the point; and we keep the paperwork to a minimum.
Face to Face
You can always use the calculators on our website to calculate how much mortgage you'll be able to afford - but it's also essential to meet with us. For one thing, you'll want a Pre-Qualification Letter! For another thing, we could find a different mortgage loan option that better fits your needs. Let us help you get started: Call us at 6507631924.
Have questions about pre-qualifying? Call us at 6507631924. We answer pre-qualification questions every day.