Why Pre-Qualification is Important
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Even if you haven't so much as researched houses to visit yet, it's valuable to visit with your mortgage loan professional first. Why? It may be hard to fathom the ways we can help even before you start to calculate your offer.
We Will Help You Pre-Qualify
We will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. In the process, we look at your borrowing capacity - reviewing your earning status, money available for down payment, debts, income, and other areas. It is a quick, thorough process with minimal risks for papercuts.
After you qualify, we present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that states that we are working with you to find the right loan to meet your financial needs and that we're confident you'll qualify for a mortgage up to a certain amount.
Power in the Pre-Qual
When you find a house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage will do a number of things. First, it lets you know the amount that you're able to offer.
Even more important to the seller of the house, your pre-qualification gives them certainty - as if you had come into their house with a suitcase of cash to back up the offer! They need not wonder if they have been wasting their time if you won't be able to be able to qualify for a high enough mortgage loan. The seller won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't be something for them to fret over. They have a virtual guarantee to trust your buying power.
We will help you pre-qualify
When we pre-qualify you, we help you find out the amount you can afford in mortgage payments you can afford, and how much we of a loan you can qualify for. In the process, we explore your capacity to borrow - looking at your earning status, money available for down payment, existing debt, income, and other circumstances. It's short and to the point; and we keep the paperwork light.
One on one
It's important to sit down and talk with us, even though you are welcome to also use the helpful mortgage loan calculators on this site. For one thing, you'll want a Pre-Qualification Letter! Next, we can review your mortgage loan options and make sure you have selected the best one. We're eager to meet with you: call us at 3103737406.
Have questions about pre-qualifying? Call us at 3103737406. We answer pre-qualification questions every day.