The Importance of Pre-Qualification
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It's valuable to see a mortgage professional first, even if you haven't decided what type of house you hope to find. What for? Maybe it is hard to understand the way we could help even before you start to calculate your offer.
We Will Help You Pre-Qualify
Our mortgage professionals will help you determine how much of a loan you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. We do this by considering your debts and income, your employment and residence situations, your funds available for down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.
Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are helping you to find the right loan program to fit your situation and that we are confident you will qualify for a mortgage up to a certain amount.
With your pre-qualification letter, some advantages are yours when you find the house you want to make an offer on. First of all, you have some definite numbers in mind, as the amount you will qualify for with your mortgage.
Even more important to the seller, your pre-qualification gives them confidence - as if you had entered their house with a bag of cash to make the offer! They will not need to wonder if that they have been wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he can't trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't be something for them to fret over. You will have the clout of a buyer ready to make the purchase right now!
We will help you with your pre-qualification
We can help you see how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through pre-qualifying. This process leads you through your finances - your debt, income, career, cash available for down payment, among other things. It is a short, thorough process with minimal risks for papercuts.
Face to Face
While you are encouraged to use our mortgage calculators on this website, it's a good idea to sit down and talk with us. We can walk you through your pre-qualification letter. Then, we can make sure we have the ideal mortgage program for you. Contact us at (800) 974-0509 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (800) 974-0509. We answer pre-qualification questions every day.