Why Pre-Qualification is Important
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Even if you have not so much as researched houses to view yet, it can be advantageous to see your mortgage pro early. What for? How can we help you before you have made your offer, and don't know yet how much you want to borrow?
We Can Help You Pre-Qualify
Our mortgage professionals will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. The process leads you through your finances - your debts, income, career, and cash available for down payment, among other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which documents the fact that we are helping you to find the right mortgage to meet your needs and that we are confident you'll qualify for a mortgage loan for up to a specific amount.
After you locate a house that meets your needs, and you decide to make an offer, being pre-qualified for a mortgage will do a couple of things. First, it helps you know how much you are able to offer.
More important to the existing home owner, your being pre-qualified is like your having entered their front door with a bag full of cash to purchase the home! They will not need to worry that they are wasting their time if you don't be able to qualify for a high enough mortgage. The seller won't worry if he can trust you to qualify for your loan.Your qualifying for your needed 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
Our mortgage professionals will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. We achieve this by considering your debts and income, your work and residence situations, the available funds for down payment, required reserves, and other considerations. It is a quick, thorough process with minimal risks for papercuts.
One on one
You can always use the calculators on our site to get an idea of how much mortgage you can afford - but it's also essential to talk with one of our mortgage professionals. For one thing, you'll want a Pre-Qualification Letter! Then, we will make sure we have found the right mortgage loan program for you. We're eager to hear from you: contact us at (800) 974-0509.
Have questions about pre-qualifying? Call us at (800) 974-0509. We answer pre-qualification questions every day.