The Importance of Pre-Qualification

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It is helpful to consult with your mortgage professional as soon as possible — even before you have begun narrowing down neighborhoods. What for? When you do not know yet how much home you want to qualify for, how could we help?

We Will Help You Pre-Qualify

Our mortgage professionals can help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. This process walks you through your finances - your debts, income, employment, and cash available for down payment, among other things. It is a short, thorough process with minimal risks for papercuts.

When you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are working with you to find the right loan to meet your financial needs and that we are confident you'll qualify for a mortgage loan up to a specific amount.

Buying Clout

Armed with your pre-qualification letter, some advantages are yours at the point you find the house you want to put together an offer for. First of all, you have some definite numbers in mind, as the amount you can borrow. Being pre-qualified also will make your offer look even better to the seller, like you were bringing them a suitcase full of cash! They won't have to wonder if that they're wasting their time if you will not be able to qualify for a big enough mortgage loan. The seller of the home won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed loan amount will not be something for them to be concerned about. You have the ability to back up your offer.

We will help you with your pre-qualification

We can help determine how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through pre-qualifying. In the process, we calculate your ability to borrow - looking at your job, available money for down payment, existing debt, income, and other areas. It's short and to the point; and we keep the paperwork to a minimum.

One on one

While you are encouraged to use our tools to calculate mortgage variables on our site, it is a good idea to sit down and talk with us. We can walk you through your pre-qualification letter. Next, we can study your loan options to make sure you have selected the best one. Let us get you started: Contact us at 3103737406.

Have questions about pre-qualifying? Call us at 3103737406. Riviera Funding NMLS#861382 CA DRE Broker #01186669 answers pre-qualifying questions every day.