The Importance of Pre-Qualifying
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It is helpful to see a mortgage loan pro early, even before you have decided what sort of house to search for. Why? What can we do for you if you have not negotiated a purchase amount, and do not yet know how much you want to borrow?
Our mortgage professionals will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. We do this by considering your debts and income, your work and residence situations, the funds available for a down payment, required reserves, and some other things. It's quick and to the point; We take pride in keeping the paperwork light.
At the point you are considered eligible, we prove our confidence in your ability to qualify for a mortgage by giving you a Pre-Qualification Letter (also called a "pre-qual").
Holding your pre-qualification letter, several advantages fall at your feet at the point you locate the house you want to put together an offer on. First, you have some general numbers in mind, as the total you will be able to borrow. Your pre-qualification also will make your offer more attractive to the seller, like you were bringing them a big box of cash! They will not need to wonder if they have been wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to worry about. You can have the sway of a buyer ready to make the deal right now!
We help with your pre-qualification
We will help determine how much of a mortgage loan you can afford, and how much money you can borrow, by taking you through pre-qualifying. In the process, we calculate your capacity to borrow - analyzing your job, available money for down payment, debts, income, and other areas. We will ask for a minimum amount of paperwork, with a short, basic process.
It's vital to sit down and talk with us, even though you are welcome to also try the helpful mortgage calculator tools on our website. That way, we'll help you get your pre-qualification letter. Next, we can study your loan options to make sure you have chosen the best one. Contact us at 281.440.8282 to get started.