The Importance of Pre-Qualification
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It is valuable to visit with a mortgage loan pro first, even before you have determined what type of house you hope to find. Why? Perhaps it is hard to fathom the ways in which we could help even before you start to calculate your offer.
We will help determine how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. The process outlines your finances - your debts, income, job, and down payment money, among other things. It's short and to the point; We keep the paperwork light.
After you qualify, will give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that documents the fact that we are helping you to find the right loan to fit your financial needs and that we are confident you'll qualify for a mortgage loan for up to a certain amount.
Several advantages open to you when you've found your new house, and have achieved pre-qualification. The first is that you'll be sure what you'll be able to afford when putting together the offer. Even more important to the existing owner, your pre-qualification gives them confidence - as if you'd come to their house with a big box of cash to back up the offer! They won't have to wonder if that they have been wasting their time if you don't be able to qualify for a big enough mortgage. The seller won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your buying power.
We can help you pre-qualify
We can help you calculate how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by taking you through the pre-qualification process. We do this by reviewing your debts and income, your work and housing circumstances, the available funds for a down payment, required reserves, and other considerations. We will ask for a minimum amount of paperwork, with a short, basic process.
It is vital to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage calculator tools on this site. We can walk you through your pre-qualification letter. Then, we'll make sure we have selected the best mortgage loan program for you. Let us get you started: Contact us at (951)840-4188.