The Importance of Pre-Qualifying
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It is important to visit with a mortgage loan pro first, even if you haven't decided what sort of house you hope to find. What for? When you don't know yet how much home you need to qualify for, what could we help you with?
When we pre-qualify you, we help you find out the amount in monthly mortgage payments you can afford, and the size of loan you will qualify for. During the process, we look at your ability to borrow - analyzing your employment, money available for down payment, existing debt, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
After you are considered eligible, we prove our confidence in your potential to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Once you find the house that is best for you, and you want to make an offer, being pre-qualified for a mortgage loan will do several things. First, you have some definite numbers in mind, as the amount you will be able to borrow.
Of greater importance to the existing home owner, your pre-qualification is like your having entered their house with a suitcase full of money to purchase the house! They need not wonder if that they are wasting their time if you don't have the ability to qualify for a high enough mortgage. The seller of the home won't worry if he can count on you to qualify for your loan.Your qualifying for the necessary loan amount won't cause them concern. You have the ability to back your offer up.
We will help you with your pre-qualification
Our mortgage professionals can help you calculate the loan amount you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We accomplish this by analyzing your debts and income, your work and housing situations, your funds available for a down payment, required reserves, and other considerations. We as for a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you are able to try our mortgage calculators on our site, it's a good idea to sit down and talk with us. For one thing, you will want a Pre-Qualification Letter! For another thing, we may locate a different mortgage option that better fits your needs. Let us help you get started: Call us at (904) 342-3622.
Have questions about pre-qualifying? Call us at (904) 342-3622. Bright Vision Mortgage answers pre-qualifying questions every day.