The Importance of Pre-Qualifying
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Even if you have not researched homes to visit yet, it's valuable to visit with your mortgage loan professional early. Why? It might be hard to understand the ways we could help even before you begin to calculate your offer.
When we pre-qualify you, we help you determine how much of a monthly payment you can afford, and the loan amount you can qualify for. During the process, we explore your borrowing capacity - reviewing your job, money available for down payment, debt, income, and other circumstances. We require a minimum amount of paperwork, and avoid a lengthy process.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which states that we are helping you to find the best loan program to meet your financial needs and that we are confident you'll qualify for a mortgage loan for up to a specific amount.
Power in the Pre-Qual
Armed with your pre-qualification letter, some advantages fall at your feet at the point you find the home you want to put together an offer for. First, it lets you know how much you can offer.
Even more important to the seller, your pre-qualification status gives them confidence - as if you'd arrived at their house 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 don't have the ability to qualify for a big enough mortgage loan. The seller won't wonder if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage 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
We can help you calculate the loan amount you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. In this process, we explore your capacity to borrow - reviewing your earning status, money available for down payment, debt, income, and other areas. It's short and to the point; and we take pride in keeping the paperwork to a minimum.
While you are encouraged to try our mortgage calculators on our site, it's a good idea to meet with us. That way, we can help you get your pre-qualification letter. Then, we will make sure we have selected the best mortgage loan program for you. Let us get you started: Call us at 6507631924.
Have questions about pre-qualifying? Call us at 6507631924. It's our job to answer pre-qualification questions, so we're happy to help!