The Importance of Pre-Qualifying
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Even if you have not researched homes to visit yet, it's advantageous to see your mortgage pro early. Why? It may be hard to understand the way we could help even before you start to talk about prices and negotiations.
We Will Help You Pre-Qualify
Our mortgage professionals will help you find out the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. We will do this by considering your income and debts, your work and residence situations, the funds available for a down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, will give you a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which states that we are working with you to find the ideal mortgage to fit your needs and that we are confident you will qualify for a mortgage for up to a certain amount.
Armed with your pre-qualification letter, several advantages are yours when you find the house you want to put together an offer on. The first is that you'll know the amount you'll be able to afford when calculating your offer.
Having pre-qualification also will make your offer more attractive to the seller, as if you were bringing them a suitcase of cash! They will not need to worry that they have been wasting their time if you will not be able to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You will have the clout of a buyer ready to make the purchase on the spot!
We can help you pre-qualify
We can help you determine how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. In the process, we explore your ability to borrow - looking at your job, money available for down payment, debts, income, and other areas. It is a quick, thorough process with minimal risks for papercuts.
One on one
You can certainly use the calculators available 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. That way, we'll help you get your pre-qualification letter. Then, we will make sure we have selected the right mortgage loan program for your situation. Let us help you get started: Call us at 866-840-8745 x2.
Have questions about pre-qualifying? Call us at 866-840-8745 x2. We answer pre-qualification questions every day.
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