The Importance of Pre-Qualifying
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It is important to consult your mortgage professional as soon as possible — even before you have started to research neighborhoods. Why? When you do not yet know how much home you need to qualify for, what could we do for you?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you decide the amount in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. In this process, we calculate your borrowing potential - analyzing your employment, money available for down payment, existing debt, income, and other areas. We ask for a minimum amount of paperwork, and avoid a lengthy process.
When you qualify, will present to 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 ideal mortgage to meet your needs and that we are confident you'll qualify for a mortgage up to a certain amount.
Once you locate the house that is right for you, and you want to make an offer, being pre-qualified for a mortgage will do several things. First of all, you have some concrete numbers in mind, as the amount you will be able to borrow.
Of greater importance to the existing home owner, your pre-qualification is like your having walked into their front door with a suitcase full of money to make the deal! They will not need to worry that that they're wasting their time if you don't be able to qualify for a high enough mortgage. The seller 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 loan amount will not be something for them to lose sleep over. You can have the clout of a buyer ready to make the purchase right now!
We will help you pre-qualify
We will help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. We will achieve this by analyzing your debts and income, your work and residence situations, your funds available for down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
It is important for you to sit down and talk with us, even though you are free to also use the helpful mortgage loan calculators on our website. We can walk you through your pre-qualification letter. Then, we will make sure we have found the right mortgage loan program for you. Let us help you get started: Contact us at (650) 689-5684.
Have questions about pre-qualifying? Call us at (650) 689-5684. It's our job to answer pre-qualification questions, so we're happy to help!