The Importance of Pre-Qualifying
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It is valuable to see a mortgage loan pro first, even before you've decided what sort of house you hope to find. Why? Perhaps it is difficult to understand the ways we could help even before you start to talk about prices and negotiations.
When we pre-qualify you, we help you decide how much of a monthly payment you can afford, and the size of loan you will qualify for. The process takes you through your finances - your debts, income, job, and down payment money, among other things. It's short and basic; We take pride in keeping the paperwork to a minimum.
We'll award you a Pre-Qualification Letter if you qualify, which states that we're confident you'll qualify for a certain amount of mortgage loan dollars.
Power in the Pre-Qual
With your pre-qualification letter, some advantages fall at your feet at the point you find the house you want to put together an offer for. The first is that you will know the amount you'll be able to afford when putting together the offer.
Even more important to the seller of the house, your pre-qualification gives them confidence - as if you had entered their house with a big box of cash to back up the offer! They will not need to worry that that they have been wasting their time if you will not have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not cause them concern. You will have the influence of a buyer ready to make the deal right now!
We help with your pre-qualification
When we pre-qualify you, we help you figure out how much of a monthly payment you can afford, and how much we of a loan you will qualify for. We do this by considering your debts and income, your work and housing situations, the funds available for down payment, required reserves, and other financial considerations. It's short and basic; and we take pride in keeping the paperwork to a minimum.
You can certainly use the mortgage calculators available on our website to calculate how much mortgage you'll be able to afford - but it's also valuable to talk with one of our mortgage professionals. For one thing, you'll want a Pre-Qualification Letter! Then, we will make sure we have the right mortgage program for you. Contact us at 8668408745 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 8668408745. Carter Financial Solutions answers pre-qualifying questions every day.