The Importance of Pre-Qualification
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It's important to consult with your mortgage loan professional early — even before you've started to research neighborhoods. What for? When you don't know yet how much home you need to qualify for, how can we help?
When we pre-qualify you, we help you figure out how much of a monthly payment you can fit in your budget, and how much we of a loan you will qualify for. We can achieve this by analyzing your debts and income, your employment and housing circumstances, the funds available for a down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, with a quick process.
Once you are determined to be eligible, we document our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Various advantages open to you when you have found your dream house, and have pre-qualification power. First of all, you have some definite numbers in mind, as the total you will qualify for on your loan.
More important to the current home owner, your being pre-qualified is like your having walked into their front door with a bag full of money ready to purchase the home! They need not be concerned that they have been wasting their time if you can't be able to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your ability to back up your offer.
We can help you pre-qualify
We can help you find out the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. We can do this by analyzing your income and debts, your employment and residence situations, your funds available for a down payment, required reserves, and some other things. We as for a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can always use the mortgage calculators here on this website to calculate how much mortgage you'll be able to afford - but it's also valuable to meet with one of our mortgage professionals. We can work toward your pre-qualification letter. For another thing, we might be able to find a different mortgage loan option that is a better fit for you. Contact us at 6507631924 to get started.
Have questions about pre-qualifying? Call us at 6507631924. We answer pre-qualification questions every day.