The Importance of Pre-Qualification

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It's valuable to consult your mortgage professional early — even before you have started to research neighborhoods. Why? What can we do for you before you have negotiated a purchase amount, and don't know yet the amount you want to borrow?

Pre-Qualify

When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the size of loan you will qualify for. We will accomplish this by reviewing your income and debts, your employment and housing circumstances, your available funds for a down payment, required reserves, and some other things. It's quick and basic; We take pride in keeping the paperwork to a minimum.

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 says that we are helping you to find the right mortgage to fit your financial needs and that we're confident you'll qualify for a mortgage for up to a specific amount.

Power in the Pre-Qual

Several advantages open to you when you find your new house, and have achieved pre-qualification power. First of all, you have some general numbers in mind, as the amount you can borrow. Even more important to the seller of the house, your pre-qualification status gives them certainty - as if you'd entered their home with a suitcase of cash to back up the offer! They will not need to be concerned they are wasting their time if you will not have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to be concerned about. You will have the influence of a buyer ready to make the deal right now!

We will help you pre-qualify

When we pre-qualify you, we help you decide the amount you can afford in monthly payments you can fit in your budget, and the loan amount you can qualify for. We accomplish this by analyzing your debts and income, your employment and residence circumstances, the available funds for a down payment, required reserves, and some other things. We will require a minimum amount of paperwork, and avoid a lengthy process.

One on one

You can always use the mortgage calculators here on our website to get an idea of how much mortgage you can afford - but it's also essential to talk with one of our mortgage professionals. We can work toward your pre-qualification letter. For another thing, we may find a different mortgage program that is a better fit for you. Let us get you started: Call us at 9722039033.

Have questions about pre-qualifying? Call us at 9722039033. Not Your Average Lender answers pre-qualifying questions every day.