Why it's Important to Pre-Qualify
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Even if you've not so much as narrowed down homes to visit yet, it's important to contact your mortgage professional first. What for? How can we help you if you haven't negotiated a purchase amount, and do not know yet how much you need to borrow?
Our mortgage professionals can help you determine how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We do this by analyzing your debts and income, your work and residence situations, the available funds for down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
Once you qualify, will present to you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which documents the fact that we are working with you to find the best mortgage loan program to fit your needs and that we're confident you'll qualify for a mortgage loan up to a certain amount.
Once you find the house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. The first is that you'll know the amount you will be able to afford when determining your offer. Being pre-qualified will also make your offer more attractive to the home seller, as if you were bringing them a bag full of cash! They won't need to wonder if that they're wasting their time if you won't be able to be able to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to worry about. They have a virtual guarantee that they can trust your ability to back up your offer.
We can help you pre-qualify
We can help you find out how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. In this process, we explore your ability to borrow - reviewing your job, money available for down payment, debts, income, and other areas. We will ask for a minimum amount of paperwork, with a short, basic process.
It is important for you to sit down and meet with us, even though you are welcome to also use the helpful mortgage loan calculators on our site. We can work toward your pre-qualification letter. Then, we will make sure we have selected the ideal mortgage loan program for your situation. We're eager to meet with you: call us at (951)840-4188.