Why it's Important to Pre-Qualify
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Even if you've not so much as researched houses to view yet, it can be important to contact your mortgage professional first. What for? Maybe it is difficult to understand the way we can help even before you start to calculate your offer.
We will help you calculate how much of a mortgage you can afford, and the amount of money you may be able to borrow, by taking you through the pre-qualification process. The process leads you through your financial situation - your debts, income, employment, and down payment money, among other things. We will require a minimum amount of paperwork, with a quick process.
After you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which states that we are working with you to find the best loan to fit your needs and that we are confident you will qualify for a mortgage for up to a specific amount.
After you locate a house that catches your eye, and you want to make an offer, being pre-qualified for a mortgage will do several things. The first is that you can know the amount you will be able to afford when determining your offer.
Having pre-qualification also will make your offer more attractive to the seller, like you were bringing them a suitcase of cash! They need not be concerned that they are wasting their time if you do not have the ability to qualify for a big enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't cause them concern. You have the clout of a buyer ready to make the purchase on the spot!
We can help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly payment you can fit in your budget, and how much we of a loan you can qualify for. We will accomplish this by reviewing your income and debts, your work and residence 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.
Face to Face
You can certainly use the calculators on this website to calculate how much mortgage you'll be able to afford - but it's also essential to talk with us. We can walk you through your pre-qualification letter. For another thing, we could locate a different mortgage program that better fits your needs. We're waiting to hear from you: call us at (800) 299-0270.
Have questions about pre-qualifying? Call us at (800) 299-0270. We answer pre-qualification questions every day.