When to Speak to Your Mortgage Professional About Pre-Qualification
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It is important to consult your mortgage professional early — even before you have started to research neighborhoods. Why? Perhaps it's difficult to fathom the ways we could help even before you begin to negotiate.
We can help you see how much of a mortgage you can afford, and how much money you can borrow, by walking you through the pre-qualification process. We achieve this by analyzing your income and debts, your work and residence circumstances, your funds available for a down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, with a short,basic process.
When you are determined to be eligible, we document our confidence in your potential to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Several advantages open to you when you find your new house, and have pre-qualification power. The first is that you will be sure the amount you'll be able to afford when determining the offer.
Being pre-qualified also will make your offer look even better to the seller, as if you were bringing them a bag full of cash! They will not need to be concerned that they have been wasting their time if you can't be able to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't cause them concern. They have a virtual guarantee to trust your ability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you find out the amount you can afford in monthly payments you can afford, and the size of loan you can qualify for. During this process, we look at your capacity to borrow - analyzing your employment, money available for down payment, existing debt, income, and other areas. It's short and basic; and we take pride in keeping the paperwork to a minimum.
While you are able to try our tools to calculate mortgage variables on this site, it's a good idea to sit down and talk with one of our mortgage professional team members. That way, we'll be able to help you get your pre-qualification letter. Then, we can make sure we have chosen the best mortgage program for you. Let us get you started: Contact us at 4433365525.
Have questions about pre-qualifying? Call us at 4433365525. It's our job to answer pre-qualification questions, so we're happy to help!