When to Talk to a Mortgage Pro
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It is valuable to consult with your mortgage loan professional early — even before you have started to research neighborhoods. What for? What can we do for you before you have negotiated a purchase amount, and don't yet know how much you need to borrow?
When we pre-qualify you, we help you decide the amount in mortgage payments you can fit in your budget, and the size of loan you will qualify for. We can do this by considering your debts and income, your employment and housing situations, the available funds for a down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
After you are determined to be eligible, we document our confidence in your capacity to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
When you locate a house that is right for you, and you decide to put together an offer, being pre-qualified for a mortgage will do several things. First of all, you have some definite numbers in mind, as the total you can borrow. More important to the home seller, your being pre-qualified is like your having entered their house with a bag full of money ready to purchase their house! They will not need to worry that they have been 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 the necessary loan amount will not cause them concern. You have the sway of a buyer ready to make the deal on the spot!
We will help you with your pre-qualification
We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. The process outlines your finances - your debt, income, employment, cash available for down payment, among other things. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
You can always use the mortgage calculators available on this website to calculate how much mortgage you'll be able to afford - but it's also valuable to meet with one of our mortgage professionals. That way, we'll be able to help you get your pre-qualification letter. Next, we can study your mortgage options to be sure you are in the right one. Let us help you get started: Contact us at (951)840-4188.