Why it's Important to Pre-Qualify
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It's helpful to visit with a mortgage loan pro early, even before you have determined what type of house you hope to find. Why? If you don't know yet how much house you need to qualify for, how could we help?
We Will Help You Pre-Qualify
We will help you calculate how much of a mortgage loan you can afford, and how much money you may be able to borrow, by walking you through pre-qualifying. During the process, we calculate your capacity to borrow - reviewing your earning status, money available for down payment, debt, income, and other areas. We ask for a minimum amount of paperwork, with a short,basic process.
Once you are determined to be eligible, we document our confidence in your potential to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
When you locate the house that meets your needs, and you want to put together an offer, being pre-qualified for a loan will do several things. The first is that you'll be sure the amount you'll be able to afford when putting together the offer.
Even more important to the current owner, your pre-qualification letter gives them confidence - as if you'd arrived at their house with a bag of cash to make the offer! They will not need to be concerned they are wasting their time if you can't have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount will not cause them concern. You have the capability to back up your offer.
We will help you with your pre-qualification
We will help you calculate how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. In the process, we determine your borrowing power - looking at your earning status, available money for down payment, debts, income, and other areas. It's a short, thorough process with minimal risks for papercuts.
Face to Face
It's important for you to sit down and meet with us, even though you are welcome to also use the helpful mortgage loan calculator tools on this website. For one thing, you will need a Pre-Qualification Letter! Then, we can make sure we have the ideal mortgage loan program for you. Contact us at 3103737406 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 3103737406. Riviera Funding NMLS#861382 CA DRE Broker #01186669 answers pre-qualifying questions every day.