When to Talk to a Mortgage Pro
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Even if you haven't researched houses to visit yet, it is valuable to see your mortgage professional first. What for? It might be hard to understand the ways we can help even before you begin to talk about prices and negotiations.
We can help you calculate how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through pre-qualifying. In the process, we determine your borrowing potential - reviewing your job, money available for down payment, debts, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
After you are considered eligible, we document our confidence in your potential to qualify for a loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Some advantages open to you when you have found your dream house, and have pre-qualification power. The first is that you will know what you will be able to afford when putting together your offer.
Of greater importance to the current home owner, your pre-qualification is like your having walked into their house with a suitcase full of money to purchase their house! They will not have to worry that that they are wasting their time if you won't be able to be able to qualify for a big enough mortgage loan. The seller won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the capability to back your offer up.
We help with your pre-qualification
Our mortgage professionals will help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. The process leads you through your financial situation - your debt, income, career, cash available for down payment, among other things. It is a quick, thorough process with minimal risks for papercuts.
Face to Face
It is important for you to sit down and meet with us, even though you are free to also utilize the helpful mortgage calculator tools on our website. We can walk you through your pre-qualification letter. For another thing, we might locate a different mortgage program that better fits your needs. We are eager to hear from you: call us at 561-373-4149.
Have questions about pre-qualifying? Call us at 561-373-4149. The Elite Lending Team at Milestone Mortgage Corporation answers pre-qualifying questions every day.