When to Talk to Your Mortgage Pro
In the market for a mortgage? We'd be thrilled to answer your questions about your mortgage needs! Call us at (800) 299-0270. Ready to get started? Apply Now.
Even if you've not so much as picked out houses to visit yet, it can be valuable to contact your mortgage professional early. What for? Perhaps it is difficult to fathom how we can help even before you begin to calculate your offer.
We will help you determine the loan amount you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. During this process, we calculate your ability to borrow - looking at your employment, available money for down payment, debts, income, and other circumstances. We ask for a minimum amount of paperwork, with a short,basic process.
At the point you are considered eligible, we prove our confidence in your potential to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
A number of beneifits open to you after you've found your next house, and have achieved pre-qualification. The first is that you will know what you'll be able to afford when putting together the offer.
Even more important to the seller, your pre-qualification gives them certainty - as if you had entered their home with a suitcase of cash to back up the offer! They will not have to worry that that they are wasting their time if you will not be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to be concerned about. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
We can help you calculate the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. We will do this by analyzing your debts and income, your work and residence situations, your funds available for a down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
Face to Face
You can always use the calculators on our site to get an idea of how much mortgage you'll be able to afford - but it's also essential to meet with us. For one thing, you'll want a Pre-Qualification Letter! For another thing, we may find a different mortgage option that is a better fit for you. We're waiting to hear from you: contact us at (800) 299-0270.
Have questions about pre-qualifying? Call us at (800) 299-0270. Back Bay Funding answers pre-qualifying questions every day.