Why it's Important to Pre-Qualify
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Even if you've not so much as picked out houses to visit yet, it is advantageous to see your mortgage professional first. Why? Maybe it's difficult to understand the way we could help even before you begin to talk about prices and negotiations.
We can help you see how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. We can do this by considering your income and debts, your work and housing circumstances, the available funds for a down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, with a short,basic process.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are partnering with you to find the right mortgage to fit your financial needs and that we're confident you will qualify for a mortgage loan up to a specific amount.
Power in the Pre-Qual
Several beneifits open to you once you find your next house, and have achieved pre-qualification. First, it helps you know how much you can offer.
Even more important to the present owner, your pre-qualification gives them certainty - as if you'd come to their home with a bag of cash to make the offer! They won't need to wonder if they have been wasting their time if you will not have the ability to qualify for a big enough mortgage loan. The seller won't worry if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't be something for them to fret over. They have a virtual guarantee that they can trust your ability to back up your offer.
We can help you pre-qualify
We can help you see how much of a mortgage loan you can afford, and how much money you may be able to borrow, by walking you through pre-qualifying. In this process, we calculate your borrowing capacity - analyzing your earning status, available money for down payment, existing debt, income, and other circumstances. We will ask for a minimum amount of paperwork, with a short, basic process.
You can certainly use the calculators on our site to get an idea of how much mortgage you will be able to afford - but it's also valuable to talk with one of our mortgage professionals. We can begin working on your pre-qualification letter. Then, we'll make sure we have the best mortgage program for your situation. Let us help you get started: Call us at 9043423622.
Have questions about pre-qualifying? Call us at 9043423622. It's our job to answer pre-qualification questions, so we're happy to help!