When to Speak to Your Mortgage Pro About Pre-Qualifying

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It's valuable to see a mortgage professional first, even before you've determined the sort of home you hope to find. What for? Maybe it is hard to understand the ways in which we can help even before you start to talk about prices and negotiations.

We Can Help You Pre-Qualify

When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. The process outlines your finances - your debt, income, job, and cash available for down payment, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.

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

Power in the Pre-Qual

After you find a house that meets your needs, and you want to put together an offer, being pre-qualified for a mortgage will do a couple of things. First, it lets you know how much you can offer. More important to the home seller, your pre-qualification is like your having walked into their front door with a suitcase full of cash ready to make the deal! They need not wonder if that they are wasting their time if you do not be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't be something for them to worry about. You have the ability to back up your offer.

We can help you pre-qualify

When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can afford, and how much we of a loan you can qualify for. We do this by analyzing your income and debts, your work and residence circumstances, the available funds for down payment, required reserves, and other considerations. We require a minimum amount of paperwork, with a quick process.

One on one

It is vital to sit down and meet with us, even though you are free to also try the helpful mortgage loan calculators on this website. For one thing, you will need a Pre-Qualification Letter! Then, we'll make sure we have chosen the best mortgage loan program for your situation. Let us help you get 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.