Why it's Important to Pre-Qualify
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It is helpful to bring in your mortgage loan professional as soon as possible — even before you have begun researching neighborhoods. What for? How can we help before you have made your offer, and don't yet know how much you want to borrow?
We will help you see how much of a mortgage you can afford, and how much money you can borrow, by walking you through pre-qualifying. We will do this by analyzing your debts and income, your employment and housing situations, your funds available for down payment, required reserves, and other financial considerations. It's quick and to the point; We keep the paperwork light.
At the point you are determined to be eligible, we document our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Several advantages open to you after you find your dream house, and have achieved pre-qualification. First of all, you have some definite numbers in mind, as the total you will be able to borrow.
Being pre-qualified can also make your offer more attractive to the seller, as if you were bringing them a big box of cash! They won't need to wonder if they have been wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
When we pre-qualify you, we help you find out how much of a monthly payment you can fit in your budget, and the size of loan you will qualify for. We achieve this by analyzing your debts and income, your employment and residence circumstances, the funds available for down payment, required reserves, and other financial considerations. It is a short, thorough process with minimal risks for papercuts.
It is important for you to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage calculator tools on our website. We can begin working on your pre-qualification letter. For another thing, we may be able to find a different mortgage choice that better fits your needs. Contact us at (904) 342-3622 to get started.
Have questions about pre-qualifying? Call us at (904) 342-3622. Bright Vision Mortgage answers pre-qualifying questions every day.