When to Speak to a Mortgage Professional About Pre-Qualifying
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Even if you haven't so much as picked out homes to view yet, it's advantageous to contact your mortgage pro first. What for? If you do not know yet how much home you want to qualify for, what could we do for you?
We Will Help You Pre-Qualify
We can help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. This process leads you through your current financial situation - your debts, income, career, and down payment money, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
When you are considered eligible, we document our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
After you locate a house that is best for you, and you want to make an offer, being pre-qualified for a mortgage will do several things. First, it helps you know the amount that you're able to offer.
Being pre-qualified can also make your offer more attractive to the home seller, as if you were bringing them a big box of cash! They need not wonder if they have been wasting their time if you won't be able to be able to qualify for a big enough mortgage. The seller won't wonder if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not be something for them to be concerned about. You'll have the clout of a buyer ready to make the deal right now!
We will help you pre-qualify
When we pre-qualify you, we help you figure out the amount you can afford in monthly payments you can afford, and how much we of a loan you can qualify for. During this process, we explore your borrowing power - reviewing your earning status, available money for down payment, debts, income, and other circumstances. It is a short, thorough process with minimal risks for papercuts.
Face to Face
You can certainly use the mortgage calculators here on our website to get an idea of how much mortgage you can afford - but it's also essential to talk with us. That way, we'll be able to help you get your pre-qualification letter. Next, we can study your mortgage loan choices to be sure you have chosen the best one. Let us get you started: Call us at (800) 974-0509.
Have questions about pre-qualifying? Call us at (800) 974-0509. Savers Home Loans answers pre-qualifying questions every day.