When to Speak to Your Mortgage Pro About Pre-Qualification
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It's helpful to bring in your mortgage loan professional early — even before you've started to consider neighborhoods. What for? What can we do for you before you have made an offer, and don't yet know the amount you want to borrow?
We Will Help You Pre-Qualify
We will help you see how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through pre-qualifying. We achieve this by considering your income and debts, your employment and housing situations, the available funds for down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
We will award you a Pre-Qualification Letter once you qualify, that states that we're confident you'll qualify for a certain amount of mortgage loan dollars.
Power in the Pre-Qual
When you locate the house that meets your needs, and you decide to make an offer, being pre-qualified for a loan will do a couple of things. The first is that you can know the amount you can afford when putting together the offer.
Of greater importance to the home seller, your pre-qualification is like your having entered their house with a bag full of cash to purchase the home! They won't have to be concerned they have been wasting their time if you don't have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to be concerned about. You will have the influence of a buyer ready to make the purchase right now!
We will help you pre-qualify
When we pre-qualify you, we help you find out how much of a monthly payment you can fit in your budget, and the size of loan you can qualify for. We accomplish this by reviewing your income and debts, your work and residence circumstances, the funds available for a down payment, required reserves, and other considerations. We will ask for a minimum amount of paperwork, with a quick process.
It's vital for you to sit down and talk with us, even though you are free to also try the helpful mortgage calculator tools on this site. For one thing, you'll want a Pre-Qualification Letter! Next, we can review your mortgage choices to be sure you have found the best one. Contact us at 305-967-7200 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 305-967-7200. We answer pre-qualification questions every day.