Why it's Important to Pre-Qualify
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It's valuable to consult with your mortgage loan professional as soon as possible — even before you've begun researching neighborhoods. What for? If you do not know yet how much house you need to qualify for, what could we help you with?
We can help you determine the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. We can do this by considering your debts and income, your work and housing situations, your available funds for down payment, required reserves, and other considerations. It's a short, thorough process with minimal risks for papercuts.
Once you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are partnering with you to find the ideal mortgage loan to fit your financial needs and that we are confident you'll qualify for a mortgage for up to a certain amount.
Several beneifits open to you when you have found your new house, and have achieved pre-qualification. First, it lets you know how much you're able to offer.
Of greater importance to the existing home owner, your pre-qualification is like your having walked into their house with a suitcase full of money to purchase the home! They need not wonder if that they are wasting their time if you will not have the ability to qualify for a big enough mortgage. The seller of the home won't worry if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. You have the ability to back your offer up.
We will help you with your pre-qualification
When we pre-qualify you, we help you find out how much of a monthly payment you can afford, and the loan amount you can qualify for. This process outlines your financial situation - your debts, income, employment, cash available for down payment, among other things. We will ask for a minimum amount of paperwork, with a short, basic process.
Face to Face
It's important to sit down and talk with us, even though you are free to also use the helpful mortgage loan calculators on our website. For one thing, you'll need a Pre-Qualification Letter! For another thing, we may locate a different mortgage program that fits your goals better. We're eager to hear from you: call us at 954.920.9799.
Have questions about pre-qualifying? Call us at 954.920.9799. It's our job to answer pre-qualification questions, so we're happy to help!