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Even if you've not picked out houses to visit yet, it is advantageous to see your mortgage professional early. What for? What can we do for you if you have not made an offer, and do not know yet how much you want to borrow?
We can help you see how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. This process outlines your finances - your debts, income, employment, and cash available for down payment, among other things. It's short and to the point; We keep the paperwork light.
Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that states that we are partnering with you to find the best mortgage to meet your financial needs and that we're confident you will qualify for a mortgage up to a certain amount.
With your pre-qualification letter, a number of advantages are yours once you locate the house you want to make an offer on. First, it helps you know how much you're able to offer.
Even more important to the seller, your pre-qualification letter gives them certainty - as if you had arrived at their house with a suitcase of cash to make the offer! They won't need to be concerned they're wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We can help you pre-qualify
We can help you find out the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. During this process, we look at your borrowing potential - reviewing your job, money available for down payment, existing debt, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
One on one
You can always use the mortgage calculators on our website to get an idea of how much mortgage you can afford - but it's also important to meet with us. For one thing, you will want a Pre-Qualification Letter! For another thing, we could locate a different mortgage option that fits your situation better. Let us get you started: Call us at 5806959369.
Have questions about pre-qualifying? Call us at 5806959369. It's our job to answer pre-qualification questions, so we're happy to help!