Why Pre-Qualification is Important
In the market for a new mortgage? We'd be thrilled to answer your questions about our many mortgage solutions! Give us a call today at (800) 299-0270. Ready to get started? Apply Online Now.
Even if you've not picked out houses to view yet, it is advantageous to contact your mortgage professional first. Why? What can we do for you before you have negotiated an amount, and do not know yet how much you need to borrow?
When we pre-qualify you, we help you determine the amount in monthly mortgage payments you can afford, and the loan amount you will qualify for. We achieve this by analyzing your debts and income, your work and housing circumstances, the funds available for down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, with a quick process.
When you are determined to be eligible, we prove our confidence in your capacity to qualify for a loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Several beneifits open to you when you have found your next house, and have achieved pre-qualification. First of all, you have some definite numbers in mind, as the amount you will qualify for with your loan.
Of greater importance to the home seller, your pre-qualification is like your having walked into their front door with a suitcase full of money to purchase the house! They won't need to wonder if that they are wasting their time if you can't be able to qualify for a high enough mortgage. The seller won't wonder if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the capability to back up your offer.
We will help you pre-qualify
When we pre-qualify you, we help you figure out how much of a monthly payment you can afford, and the size of loan you can qualify for. We achieve this by analyzing your income and debts, your employment and housing circumstances, your funds available for a down payment, required reserves, and other considerations. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
You can always use the mortgage calculators available on our website to calculate how much mortgage you'll be able to afford - but it's also essential to talk with one of our mortgage professionals. We can walk you through your pre-qualification letter. For another thing, we might be able to find a different mortgage loan option that is a better fit for you. Let us get you started: Call us at (800) 299-0270.
Have questions about pre-qualifying? Call us at (800) 299-0270. It's our job to answer pre-qualification questions, so we're happy to help!