Why Pre-Qualification is Important
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Even if you haven't so much as narrowed down homes to view yet, it is important to contact your mortgage loan professional early. What for? It may be hard to fathom the ways we could help even before you start to negotiate.
We can help you calculate how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. We will do this by reviewing your debts and income, your employment and residence circumstances, your funds available for a down payment, required reserves, and other considerations. We require a minimum amount of paperwork, with a quick process.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that documents the fact that we are helping you to find the ideal loan to fit your financial needs and that we are confident you'll qualify for a loan for up to a certain amount.
Power in the Pre-Qual
Holding your pre-qualification letter, some advantages are yours once you locate the house you want to make an offer on. First, it lets you know how much you can offer.
Having pre-qualification also will make your offer more attractive to the home seller, like you were bringing them a big box of cash! They will not need to worry that that they're wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to fret over. They have a virtual guarantee to trust your ability to back up your offer.
We can help you pre-qualify
Our mortgage professionals can help you determine the loan amount you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. The process outlines your current financial situation - your debts, income, job, down payment money, among other things. We require a minimum amount of paperwork, with a quick process.
One on one
It is vital for you to sit down and talk with us, even though you are free to also use the helpful mortgage calculators on this website. We can walk you through your pre-qualification letter. Next, we can study your mortgage loan choices to be sure you are in the right one. We are eager to hear from you: contact us at 954.920.9799.
Have questions about pre-qualifying? Call us at 954.920.9799. We answer pre-qualification questions every day.