Why Pre-Qualification is Important
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It is important to visit with a mortgage loan pro first, even if you haven't settled on the sort of home you hope to find. What for? It may be hard to understand the ways we can help even before you start to calculate your offer.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and how much we of a loan you can qualify for. The process outlines your finances - your debt, income, employment, and down payment money, among other things. It is a short, thorough process with minimal risks for papercuts.
At the point you are determined to be eligible, we will prove our confidence in your capacity to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Several advantages open to you after you have found your next house, and have pre-qualification power. First of all, you have some definite numbers in mind, as the total you will qualify for on your mortgage loan.
Even more important to the current owner, your pre-qualification letter gives them certainty - as if you had come to their home with a bag of cash to back up the offer! They will not need to worry that that they have been wasting their time if you do not 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 trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not be something for them to worry about. They have a virtual guarantee to trust your ability to back up your offer.
We help with your pre-qualification
We can help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. We will achieve this by reviewing your debts and income, your employment and residence situations, the funds available for down payment, required reserves, and other financial considerations. It's a short, thorough process with minimal risks for papercuts.
Face to Face
While you can use our tools to calculate mortgage variables on this site, it will be essential to sit down and talk with us. We can work toward your pre-qualification letter. For another thing, we might find a different mortgage program that fits your needs better. Let us get you started: Call us at (800) 974-0509.
Have questions about pre-qualifying? Call us at (800) 974-0509. It's our job to answer pre-qualification questions, so we're happy to help!