Why it's Important to Pre-Qualify
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Even if you haven't so much as picked out homes to visit yet, it can be valuable to visit with your mortgage professional early. Why? What can we do for you if you haven't made your offer, and do not know yet the amount you need to borrow?
When we pre-qualify you, we help you decide the amount in monthly mortgage payments you can afford, and the size of loan you can qualify for. The process outlines your finances - your debt, income, employment, and down payment money, among other things. We will ask for a minimum amount of paperwork, with a short,basic process.
After you qualify, will give you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which documents the fact that we are working with you to find the best mortgage to meet your needs and that we are confident you will qualify for a loan for a specific amount.
With your pre-qualification letter, some advantages fall at your feet once you locate the home you want to make an offer for. First, it lets you know the amount that you are able to offer.
Being pre-qualified also will make your offer more attractive to the seller, like you were bringing them a big box of cash! They won't need to wonder if they have been wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to be concerned about. They have a virtual guarantee to trust your ability to back up your offer.
We will help you pre-qualify
Our mortgage professionals will help you calculate how much of a loan you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. The process walks you through your financial situation - your debt, income, employment, down payment money, among other things. We as for a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you are able to use our tools to calculate mortgage variables on this website, it will be essential to meet with one of our mortgage professional team members. We can begin working on your pre-qualification letter. Then, we'll make sure we have chosen the best mortgage loan program for your situation. Contact us at 866-840-8745 x2 to get started.
Have questions about pre-qualifying? Call us at 866-840-8745 x2. It's our job to answer pre-qualification questions, so we're happy to help!