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It's valuable to visit with a mortgage professional early, even if you haven't decided what type of house to search for. Why? Maybe it is hard to fathom how we can help even before you start to negotiate.
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. We can achieve this by reviewing your debts and income, your employment and residence situations, your available funds for a down payment, required reserves, and other considerations. It is a short, thorough process with minimal risks for papercuts.
Once you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent might call it 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 will qualify for a mortgage for a specific amount.
Power in the Pre-Qual
Several advantages open to you when you find your next house, and have pre-qualification. The first is that you'll know what you'll be able to afford when putting together the offer.
Your pre-qualification also will make your offer more attractive to the seller, as if you were bringing them a suitcase full of cash! They will not have to be concerned 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 wonder if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not cause them concern. You have the ability to back your offer up.
We help with your pre-qualification
We will help you calculate how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through pre-qualifying. In this process, we look at your borrowing capacity - looking at your employment, available money for down payment, debts, income, and other circumstances. We require a minimum amount of paperwork, with a quick process.
Face to Face
It is important for you to sit down and meet with us, even though you are free to also utilize the helpful mortgage calculators on our site. We can work toward your pre-qualification letter. Next, we can study your mortgage choices and make sure you are in the best one. Let us get you started: Contact us at 4056158543.
Have questions about pre-qualifying? Call us at 4056158543. We answer pre-qualification questions every day.