Why it's Important to Pre-Qualify
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It can be helpful to see a mortgage loan pro first, even before you've decided the kind of home you hope to find. What for? What can we do for you if you haven't made your offer, and don't yet know how much you want to borrow?
We Will Help You Pre-Qualify
Our mortgage professionals will help you determine the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. The process outlines your finances - your debt, income, career, and cash available for down payment, among other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
When you are determined to be eligible, we will prove our confidence in your potential to qualify for a mortgage by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
After you locate the house that is right for you, and you decide to make an offer, being pre-qualified for a loan will do several things. First, you have some concrete numbers in mind, as the total you will qualify for with your mortgage loan.
More important to the home seller, your pre-qualification is like your having entered their house with a suitcase full of money ready to make the deal! They won't have to wonder if that they're wasting their time if you don't be able to qualify for a big enough mortgage. The seller won't worry if he can count on you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You have the ability to back your offer up.
We can help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can fit in your budget, and the loan amount you will qualify for. We will achieve this by analyzing your debts and income, your work and housing circumstances, your available funds for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
One on one
You can always use the mortgage calculators on this site to get an idea of how much mortgage you'll be able to afford - but it's also valuable to meet with one of our mortgage professionals. For one thing, you'll want a Pre-Qualification Letter! Next, we can study your mortgage program options to be sure you are in the best one. Contact us at (650) 689-5684 to get your pre-qualification process started.
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!