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It is valuable to bring in your mortgage professional as soon as possible — even before you have started to research neighborhoods. Why? What can we do for you before you have negotiated a price, and don't know yet how much you need to borrow?
When we pre-qualify you, we help you determine the amount in monthly payments you can afford, and the loan amount you can qualify for. The process takes you through your finances - your debts, income, job, and cash available for down payment, among other things. It is 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 says that we are working with you to find the best mortgage loan to fit your needs and that we're confident you'll qualify for a loan up to a certain amount.
Power in the Pre-Qual
Once you find the house that catches your eye, and you want to put together an offer, being pre-qualified for a loan will do several things. The first is that you will know what you will be able to afford when determining your offer. Being pre-qualified also will make your offer look even better to the seller, as if you were bringing them a bag full of cash! They will not have to worry that they are wasting their time if you will not have the ability to qualify for a big enough mortgage. The seller of the home won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't be something for them to worry about. They have a virtual guarantee that they can trust your ability to back up your offer.
We can help you pre-qualify
Our mortgage professionals can help you determine the loan amount you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. The process outlines your financial situation - your debts, income, job, cash available for down payment, among other things. It's short and basic; and we keep the paperwork light.
One on one
It's vital to sit down and meet with us, even though you are welcome to also try the helpful mortgage calculator tools on this website. That way, we'll help you get your pre-qualification letter. Next, we can study your mortgage program choices to make sure you are in the right one. Let us get you started: Contact us at 281.440.8282.