When to Talk to Your Mortgage Professional
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Even if you've not picked out houses to view yet, it's advantageous to contact your mortgage pro first. Why? It might be difficult to fathom how we can help even before you start to talk about prices and negotiations.
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and the size of loan you will qualify for. This process walks you through your finances - your debts, income, career, and down payment money, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that states that we are working with you to find the ideal loan to meet your situation and that we are confident you will qualify for a mortgage loan up to a certain amount.
Holding your pre-qualification letter, several advantages are yours once you find the home you want to make an offer on. First, it lets you know how much you can offer.
Even more important to the seller, your pre-qualification letter gives them certainty - as if you had arrived at their home with a bag of cash to make the offer! They will not need to wonder if they are wasting their time if you will not have the ability to qualify for a high enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to fret over. You have the clout of a buyer ready to make the purchase on the spot!
We will help you pre-qualify
We can help you determine the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. We will do this by analyzing your debts and income, your employment and housing circumstances, the available funds for down payment, required reserves, and other considerations. It is a short, thorough process with minimal risks for papercuts.
While you are able to try our mortgage calculators on this website, it's a good idea to sit down and talk with us. That way, we'll be able to help you get your pre-qualification letter. For another thing, we might find a different mortgage program that is a better fit for you. Contact us at (800) 299-0270 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (800) 299-0270. We answer pre-qualification questions every day.