Why Pre-Qualification is Important


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It's helpful to visit with a mortgage professional early, even if you haven't settled on what sort of house to search for. Why? Perhaps it is difficult to understand the ways we could help even before you start to talk about prices and negotiations.

Pre-Qualify

When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. We accomplish this by considering your debts and income, your employment and residence circumstances, your available funds for down payment, required reserves, and some other things. It's quick and to the point; We keep the paperwork to a minimum.

Once you qualify, we give you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that documents the fact that we are partnering with you to find the ideal mortgage to fit your situation and that we're confident you will qualify for a loan for a certain amount.

Pre-Qualification Power

Armed with your pre-qualification letter, a number of advantages fall at your feet at the point you locate the house you want to put together an offer for. First of all, you have some general numbers in mind, as the total you will qualify for with your loan. More important to the home seller, your being pre-qualified is like your having entered their front door with a bag full of money ready to purchase their house! They will not need to worry that that they're wasting their time if you do not have the ability to qualify for a big enough mortgage loan. The seller won't wonder if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not cause them concern. You have the ability to back up your offer.

We will help you with your pre-qualification

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. This process outlines your financial situation - your debts, income, job, cash available for down payment, among other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.

Face to Face

It is important for you to sit down and meet with us, even though you are free to also try the helpful mortgage loan calculators on our website. For one thing, you will want a Pre-Qualification Letter! Then, we can make sure we have found the right mortgage program for your situation. We're eager to meet with you: contact us at 5613734149.