Why Pre-Qualification is Important

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It's valuable to bring in your mortgage professional early — even before you've started researching neighborhoods. What for? What can we do for you before you have made your offer, and do not know yet how much you need to borrow?

We Can Help You Pre-Qualify

When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and the loan amount you will qualify for. During this process, we calculate your ability to borrow - reviewing your employment, available money for down payment, debt, income, and other circumstances. It is a short, thorough process with minimal risks for papercuts.

Once you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which documents the fact that we are working with you to find the ideal mortgage loan to meet your needs and that we are confident you will qualify for a mortgage loan for up to a specific amount.

Buying Clout

Several advantages open to you when you find your new house, and have achieved pre-qualification. First of all, you have some definite numbers in mind, as the total you will qualify for with your mortgage loan. Even more important to the seller of the home, your pre-qualification gives them confidence - as if you had come into their home with a big box of cash to back up the offer! They need not wonder if that they have been wasting their time if you don't have the ability to qualify for a high enough mortgage loan. The seller won't wonder if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not be something for them to lose sleep over. You have the capability to back up your offer.

We help with your pre-qualification

We can help you calculate how much of a loan you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. We do this by reviewing your debts and income, your employment and residence situations, your funds available for a down payment, required reserves, and some other things. It's quick and to the point; and we keep the paperwork light.

One on one

You can always use the mortgage calculators here on our site to get an idea of how much mortgage you will be able to afford - but it's also important to meet with one of our mortgage professionals. That way, we'll help you get your pre-qualification letter. For another thing, we could locate a different mortgage choice that fits your goals better. We're waiting to meet with 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.

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