Why Pre-Qualification is Important
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Even if you've not picked out homes to visit yet, it's valuable to visit with your mortgage professional first. What for? When you do not know yet how much home you want to qualify for, how can we help?
When we pre-qualify you, we help you determine the amount in monthly payments you can afford, and the size of loan you can qualify for. In the process, we determine your borrowing capacity - analyzing your job, money available for down payment, existing debt, income, and other circumstances. We will require a minimum amount of paperwork, and avoid a lengthy process.
We'll award you a Pre-Qualification Letter if you qualify, which states that we are confident you'll qualify for up to a predetermined amount of mortgage dollars.
Power in the Pre-Qual
Various advantages open to you once you find your next house, and have achieved pre-qualification. The first is that you'll be sure what you will be able to afford when calculating your offer.
Even more important to the seller, your pre-qualification status gives them certainty - as if you'd come to their house with a bag of cash to back up the offer! They will not have to be concerned that they have been wasting their time if you won't be able to have the ability to qualify for a big enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We will help you pre-qualify
When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. We achieve this by analyzing your income and debts, your work and residence circumstances, your funds available for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, with a short, basic process.
You can always use the mortgage calculators available on this site to get an idea of how much mortgage you'll be able to afford - but it's also important to talk with us. That way, we will be able to help you get your pre-qualification letter. Next, we can consider your mortgage choices to make sure you have selected the best one. Contact us at 9037147086 to get started.
Have questions about pre-qualifying? Call us at 9037147086. It's our job to answer pre-qualification questions, so we're happy to help!