Why Pre-Qualification is Important
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Even if you've not so much as narrowed down homes to view yet, it is advantageous to see your mortgage loan professional early. What for? When you don't yet know how much home you need to qualify for, what could we help you with?
We Can Help You Pre-Qualify
We will help you find out how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. The process outlines your financial situation - your debt, income, job, and cash available for down payment, among other things. It's short and basic; We take pride in keeping the paperwork light.
After you are determined to be eligible, we prove our confidence in your ability to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
When you find the house that is right for you, and you decide to make an offer, being pre-qualified for a loan will do several things. First, you have some general numbers in mind, as the amount you can borrow.
Even more important to the seller, your pre-qualification letter gives them confidence - as if you'd arrived at their house with a suitcase of cash to make the offer! They will not need to be concerned that they are wasting their time if you don't have the ability to qualify for a big enough mortgage. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for the necessary 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
We will help you see how much of a mortgage loan you can afford, and how much money you may be able to borrow, by taking you through pre-qualifying. We can accomplish this by analyzing your income and debts, your employment and housing circumstances, your funds available for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, and avoid a lengthy process.
It is vital for you to sit down and meet with us, even though you are welcome to also try the helpful mortgage loan calculators on our site. We can begin getting your pre-qualification letter. For another thing, we may be able to locate a different mortgage option that fits your needs better. Let us get you started: Call 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.