Why Pre-Qualification is Important
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It's important to visit with a mortgage professional first, even if you haven't decided what sort of home you hope to find. What for? If you don't know yet how much home you want to qualify for, how could we help?
We can 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. During this process, we calculate your ability to borrow - reviewing your earning status, money available for down payment, debts, income, and other circumstances. We require a minimum amount of paperwork, with a quick process.
After you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which states that we are partnering with you to find the ideal loan to meet your needs and that we are confident you'll qualify for a loan up to a certain amount.
Various beneifits open to you once you have found your next house, and have pre-qualification. First of all, you have some definite numbers in mind, as the total you will qualify for on your mortgage loan.
Of greater importance to the existing home owner, your pre-qualification is like your having entered their front door with a suitcase full of cash ready to purchase their home! They need not worry that that they're wasting their time if you don't have the ability to qualify for a high enough mortgage loan. The seller of the home 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 will not cause them concern. You will have the sway of a buyer ready to make the deal right now!
We can help you pre-qualify
Our mortgage professionals can help you find out the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We will do this by considering your income and debts, your employment and housing situations, the funds available for down payment, required reserves, and other considerations. It is a quick, thorough process with minimal risks for papercuts.
One on one
While you are encouraged to use our mortgage calculators on our website, it is essential to meet with one of our mortgage professional team members. We can begin working on your pre-qualification letter. For another thing, we may be able to find a different mortgage option that is a better fit for you. Let us get you started: Contact us at 8668408745.
Have questions about pre-qualifying? Call us at 8668408745. It's our job to answer pre-qualification questions, so we're happy to help!