Why it's Important to Pre-Qualify
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Even if you haven't researched homes to view yet, it can be valuable to visit with your mortgage loan professional first. What for? How can we help you if you haven't negotiated an amount, and don't yet know how much you want to borrow?
We will help you determine the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. The process leads you through your financial situation - your debt, income, employment, and cash available for down payment, among other things. We require a minimum amount of paperwork, with a quick process.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which documents the fact that we are helping you to find the right mortgage loan to meet your situation and that we are confident you will qualify for a mortgage loan up to a specific amount.
Armed with your pre-qualification letter, some advantages are yours once you find the house you want to put together an offer on. First, you have some definite numbers in mind, as the amount you will be able to borrow.
Your pre-qualification also will make your offer more attractive to the seller, like you were bringing them a suitcase full of cash! They won't need to worry that that they are wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't be something for them to be concerned about. You have the capability to back up your offer.
We help with your pre-qualification
Our mortgage professionals can help you calculate how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. During this process, we determine your capacity to borrow - reviewing your job, money available for down payment, existing debt, income, and other areas. We will require a minimum amount of paperwork, with a quick process.
While you can use our tools to calculate mortgage variables on this site, it is essential to meet with us. For one thing, you will need a Pre-Qualification Letter! For another thing, we could find a different mortgage loan option that is a better fit for you. We're waiting to meet with you: contact us at 866-840-8745 x2.
Have questions about pre-qualifying? Call us at 866-840-8745 x2. Carter Financial Solutions answers pre-qualifying questions every day.