Why it's Important to Pre-Qualify
It is helpful to consult with your mortgage loan professional early — even before you have started narrowing down neighborhoods. What for? What can we do for you if you haven't negotiated an amount, and don't yet know the amount you want to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in monthly mortgage payments you can afford, and how much we of a loan you will qualify for. During this process, we explore your borrowing capacity - looking at your job, available money for down payment, debts, income, and other areas. We will require a minimum amount of paperwork, with a short,basic process.
At the point you are determined to be eligible, we document our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
When you locate a house that meets your needs, and you decide to make an offer, being pre-qualified for a loan will do several things. First, you have some definite numbers in mind, as the total you can borrow.
Even more important to the seller, your pre-qualification gives them certainty - as if you had come to their house with a suitcase of cash to back up the offer! They won't need to worry that they have been wasting their time if you will not have the ability to qualify for a high enough mortgage loan. The seller of the home won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your buying power.
We help with your pre-qualification
We can help you see how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by taking you through the pre-qualification process. This process outlines your finances - your debts, income, employment, down payment money, among other things. It is a short, thorough process with minimal risks for papercuts.
It is vital for you to sit down and talk with us, even though you are free to also try the helpful mortgage calculator tools on this website. That way, we will be able to help you get your pre-qualification letter. For another thing, we might locate a different mortgage program that better fits your needs. Contact us at 866-300-1550 to get started.
Have questions about pre-qualifying? Call us at 866-300-1550. It's our job to answer pre-qualification questions, so we're happy to help!