The Importance of Pre-Qualification

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Even if you've not so much as researched homes to visit yet, it is important to contact your mortgage pro first. What for? What can we do for you before you have negotiated a price, and do not yet know the amount you need to borrow?


We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. We accomplish this by considering your debts and income, your work and residence situations, your funds available for a down payment, required reserves, and other financial considerations. It's quick and to the point; We keep the paperwork to a minimum.

When you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are helping you to find the right loan to fit your needs and that we're confident you will qualify for a mortgage for a certain amount.

Buying Power

Armed with your pre-qualification letter, a number of advantages fall at your feet at the point you find the home you want to put together an offer on. The first is that you will be sure the amount you can afford when calculating your offer. Of greater importance to the home seller, your pre-qualification is like your having entered their house with a bag full of money ready to make the deal! They won't need to wonder if they have been wasting their time if you do not have the ability to qualify for a big enough mortgage. The seller won't wonder if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount won't cause them concern. You'll have the sway of a buyer ready to make the purchase right now!

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 loan amount you will qualify for. In the process, we look at your ability to borrow - analyzing your job, money available for down payment, existing debt, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.


While you can try our mortgage calculators on our site, it's a good idea to meet with one of our mortgage professional team members. For one thing, you will need a Pre-Qualification Letter! Next, we can study your loan choices to make sure you have selected the right one. We are eager to hear from you: contact 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.