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It is helpful to bring in your mortgage loan professional early — even before you have begun researching neighborhoods. Why? Maybe it is hard to understand how we could help even before you begin to calculate your offer.
We can help you find out 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. This process takes you through your financial situation - your debt, income, employment, and down payment money, among other things. It's a short, thorough process with minimal risks for papercuts.
At the point you are considered eligible, we document our confidence in your ability to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Once you locate the house that catches your eye, and you decide to put together an offer, being pre-qualified for a loan will do several things. First, it lets you know the amount that you're able to offer.
Having pre-qualification can also make your offer look even better to the seller, as if you were bringing them a suitcase full of cash! They need not worry that they're wasting their time if you can't have the ability to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. You'll have the influence of a buyer ready to make the purchase on the spot!
We will help you with your pre-qualification
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and the loan amount you will qualify for. In the process, we determine your capacity to borrow - looking at your earning status, available money for down payment, debt, income, and other circumstances. We as for a minimum amount of paperwork, and avoid a lengthy process.
One on one
It is important to sit down and meet with us, even though you are free to also try the helpful mortgage loan calculator tools on our site. For one thing, you'll want a Pre-Qualification Letter! For another thing, we may locate a different mortgage program that better fits your needs. Let us get you started: Call us at 561-373-4149.
Have questions about pre-qualifying? Call us at 561-373-4149. It's our job to answer pre-qualification questions, so we're happy to help!