Why Pre-Qualification is Important
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It's helpful to bring in your mortgage loan professional early — even before you've started narrowing down neighborhoods. Why? What can we do for you before you have made your offer, and don't yet know the amount you need to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in mortgage payments you can fit in your budget, and the loan amount you can qualify for. We accomplish this by considering your debts and income, your work and housing situations, your funds available for down payment, required reserves, and other financial considerations. It is a short, thorough process with minimal risks for papercuts.
Once you qualify, we present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which states that we are helping you to find the ideal mortgage loan to fit your situation and that we're confident you will qualify for a loan for a certain amount.
Power in the Pre-Qual
A number of advantages open to you when you've found your next house, and have achieved pre-qualification. The first is that you'll know what you'll be able to afford when calculating the offer.
Of greater importance to the seller, your being pre-qualified is like your having walked into their house with a suitcase full of money to purchase the home! They won't need to worry that they are wasting their time if you do not be able to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount will not 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 with your pre-qualification
We will help you determine how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. The process takes you through your finances - your debts, income, employment, down payment money, among other things. It's quick and to the point; and we take pride in keeping the paperwork to a minimum.
Face to Face
It is important to sit down and meet with us, even though you are welcome to also use the helpful mortgage loan calculators on our site. That way, we'll be able to help you get your pre-qualification letter. For another thing, we may locate a different mortgage program that better fits your needs. Contact us at 844-773-1401 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 844-773-1401. We answer pre-qualification questions every day.