When to Speak to a Mortgage Pro
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It's important to consult with your mortgage loan professional as soon as possible — even before you have started to research neighborhoods. What for? If you don't know yet how much home you need to qualify for, what could we help you with?
When we pre-qualify you, we help you find out the amount in mortgage payments you can afford, and the loan amount you will qualify for. The process walks you through your finances - your debts, income, career, and cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.
Once you qualify, will give you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are helping you to find the best loan to meet your situation and that we're confident you'll qualify for a mortgage loan for up to a certain amount.
Power in the Pre-Qual
Some beneifits open to you when you find your next house, and have pre-qualification power. The first is that you'll know the amount you'll be able to afford when putting together the offer.
Even more important to the seller of the house, your pre-qualification gives them confidence - as if you'd come into their home with a big box of cash to make the offer! They will not have to worry that they have been wasting their time if you do not be able to qualify for a big enough mortgage. The seller won't worry if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not cause them concern. You can have the sway of a buyer ready to make the deal on the spot!
We help with your pre-qualification
We will help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. We accomplish this by reviewing your debts and income, your employment and housing situations, the funds available for down payment, required reserves, and other considerations. It's a short, thorough process with minimal risks for papercuts.
It is vital for you to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage loan calculator tools on our site. For one thing, you will need a Pre-Qualification Letter! For another thing, we may find a different mortgage program that fits your needs better. Let us get you started: Contact us at (405) 615-8543.
Have questions about pre-qualifying? Call us at (405) 615-8543. Executive Lending Group answers pre-qualifying questions every day.