The Importance of Pre-Qualifying

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It is helpful to consult your mortgage loan professional early — even before you have started to research neighborhoods. Why? If you do not know yet how much home you want to qualify for, how can we help?


When we pre-qualify you, we help you figure out the amount in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. In the process, we calculate your ability to borrow - analyzing your earning status, available money for down payment, existing debt, income, and other areas. We ask for a minimum amount of paperwork, and avoid a lengthy process.

We will award you a Pre-Qualification Letter after you qualify, which says that we are confident you'll qualify for up to a predetermined amount of mortgage loan dollars.

Buying Power

Some beneifits open to you once you have found your new house, and have pre-qualification power. First, you have some general numbers in mind, as the total you can borrow. Even more important to the existing owner, your pre-qualification letter gives them confidence - as if you had arrived at their home with a suitcase of cash to back up the offer! They won't need to wonder if they are wasting their time if you don't have the ability to qualify for a big enough mortgage. The seller won't wonder if he can trust you to qualify for your loan.Your qualifying for the necessary loan amount will not be something for them to fret over. You can have the clout of a buyer ready to make the purchase right now!

We can help you pre-qualify

We can help determine how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. We achieve this by considering your debts and income, your work and residence situations, the available funds for a down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.

Face to Face

You can certainly use the calculators here on this website to get an idea of how much mortgage you will be able to afford - but it's also valuable to talk with us. We can begin getting your pre-qualification letter. Then, we'll make sure we have the best mortgage loan program for your situation. Let us help you get started: Contact us at (888) 299-4585.

Have questions about pre-qualifying? Call us at (888) 299-4585. Back Bay Funding answers pre-qualifying questions every day.

Basic Pre-Approval

Get the Best Mortgage Rate! Tell us a little about your current needs and we can use that information to match you with just the right loan.

Tell us about your loan needs.
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