Why it's Important to Pre-Qualify
Are you looking for a mortgage loan? We can assist you! Give us a call today at (800) 974-0509. Want to get started? Apply Now.
It's valuable to consult with your mortgage loan professional as soon as possible — even before you've started to consider neighborhoods. What for? What can we do for you if you haven't negotiated a purchase amount, and don't yet know how much you need to borrow?
We Can Help You Pre-Qualify
Our mortgage professionals can help you calculate the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. We achieve this by analyzing your income and debts, your work and residence situations, the available funds for a down payment, required reserves, and other financial considerations. It's quick and basic; We keep the paperwork to a minimum.
Once you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are working with you to find the ideal mortgage to meet your financial needs and that we are confident you will qualify for a mortgage loan up to a certain amount.
When you locate the house that is right for you, and you decide to make an offer, being pre-qualified for a mortgage will do several things. First of all, you have some definite numbers in mind, as the amount you will qualify for on your mortgage loan.
Being pre-qualified also will make your offer look even better to the seller, as if you were bringing them a suitcase of cash! They need not wonder if that they have been wasting their time if you won't be able to have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not be something for them to fret over. You have the capability to back up your offer.
We help with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in monthly payments you can fit in your budget, and the size of loan you will qualify for. In this process, we look at your capacity to borrow - looking at your earning status, money available for down payment, debt, income, and other areas. We require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
It is important to sit down and talk with us, even though you are free to also use the helpful mortgage calculators on this site. That way, we will be able to help you get your pre-qualification letter. For another thing, we could locate a different mortgage program that better fits your needs. Contact us at (800) 974-0509 to get started.
Have questions about pre-qualifying? Call us at (800) 974-0509. We answer pre-qualification questions every day.