When to Speak to a Mortgage Pro About Pre-Qualification
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It is valuable to bring in your mortgage loan professional as soon as possible — even before you've begun narrowing down neighborhoods. Why? It might be hard to understand the ways we can help even before you begin to negotiate.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in monthly payments you can afford, and the loan amount you can qualify for. During this process, we look at your ability to borrow - reviewing your job, available money for down payment, debt, income, and other circumstances. It is a short, thorough process with minimal risks for papercuts.
Once you are determined to be eligible, we document our confidence in your ability to qualify for a loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
After you locate the house that is right for you, and you decide to put together an offer, being pre-qualified for a loan will do several things. The first is that you will be sure the amount you will be able to afford when determining your offer.
Of greater importance to the existing home owner, your pre-qualification is like your having walked into their house with a suitcase full of money ready to purchase their house! They will not need to wonder if that they have been wasting their time if you don't be able to qualify for a high enough mortgage. 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 be something for them to be concerned about. You have the capability to back your offer up.
We will help you with your pre-qualification
We will help you calculate how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. During this process, we look at your capacity to borrow - analyzing your employment, money available for down payment, debts, income, and other areas. It's short and basic; and we keep the paperwork to a minimum.
You can certainly use the calculators here on this website to calculate how much mortgage you'll be able to afford - but it's also important to talk with one of our mortgage professionals. That way, we will help you get your pre-qualification letter. Next, we can review your mortgage choices and make sure you are in the best one. We're eager to hear from you: call us at 6507631924.
Have questions about pre-qualifying? Call us at 6507631924. Norcal Capital Group, Inc answers pre-qualifying questions every day.