The Importance of Pre-Qualification
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Even if you have not so much as picked out houses to view yet, it is important to visit with your mortgage professional early. Why? If you don't know yet how much home you need to qualify for, what could we do for you?
We can help you find out the loan amount you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. We achieve this by analyzing your debts and income, your employment and housing situations, the available funds for down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which documents the fact that we are working with you to find the ideal mortgage to meet your financial needs and that we're confident you'll qualify for a mortgage up to a specific amount.
Holding your pre-qualification letter, some advantages are yours when you locate the home you want to make an offer on. First, it lets you know the amount that you're able to offer. Even more important to the seller of the house, your pre-qualification gives them certainty - as if you'd entered their house with a bag of cash to back up the offer! They won't have to be concerned they're wasting their time if you will not have the ability to qualify for a high 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 your needed loan amount won't be something for them to worry about. You have the ability to back up your offer.
We will help you pre-qualify
We will help you calculate 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. In the process, we look at your capacity to borrow - reviewing your job, money available for down payment, existing debt, income, and other circumstances. It's short and to the point; and we take pride in keeping the paperwork light.
One on one
While you are able to try our mortgage calculators on this website, it will be essential to sit down and talk with one of our mortgage professional team members. We can walk you through your pre-qualification letter. For another thing, we might locate a different mortgage choice that is a better fit for you. We are eager to hear from you: call us at 9518404188.