The Importance of Pre-Qualification
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It's important to consult with your mortgage professional early — even before you've started narrowing down neighborhoods. What for? What can we do for you if you have not negotiated a price, and don't know yet the amount you want to borrow?
When we pre-qualify you, we help you find out the amount in monthly mortgage payments you can afford, and the size of loan you will qualify for. This process takes you through your finances - your debts, income, employment, and down payment money, among other things. It's quick and basic; We take pride in keeping the paperwork light.
We will award you a Pre-Qualification Letter if you qualify, that states that we are confident you'll qualify for up to a specific amount of mortgage loan dollars.
Power in the Pre-Qual
Various beneifits open to you once you find your dream house, and have achieved pre-qualification power. First, it helps you know the amount that you're able to offer.
Of greater importance to the existing home owner, your being pre-qualified is like your having walked into their house with a bag full of cash to make the deal! They won't have to be concerned that they are wasting their time if you do not have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to be concerned about. You have the ability to back your offer up.
We will help you with your pre-qualification
We will help you see how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. We can do this by reviewing your debts and income, your work and residence circumstances, the funds available for down payment, required reserves, and other financial considerations. It's a short, thorough process with minimal risks for papercuts.
Face to Face
While you are able to use our mortgage calculators on our website, it will be a good idea to sit down and talk with one of our mortgage professional team members. We can walk you through your pre-qualification letter. For another thing, we could be able to locate a different mortgage option that is a better fit for you. Contact us at 866-840-8745 x2 to get your pre-qualification process 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!