Why it's Important to Pre-Qualify

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It can be valuable to see a mortgage professional first, even if you haven't settled on what type of house to search for. What for? Perhaps it's hard to fathom the ways we could help even before you begin to talk about prices and negotiations.

Pre-Qualify

We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. In the process, we look at your capacity to borrow - looking at your job, money available for down payment, existing debt, income, and other circumstances. It's short and basic; We take pride in keeping the paperwork light.

After you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that documents the fact that we are partnering with you to find the ideal loan to fit your situation and that we are confident you will qualify for a loan for up to a specific amount.

Buying Clout

After you locate a house that is right for you, and you want to put together an offer, being pre-qualified for a loan will do a couple of things. First of all, you have some general numbers in mind, as the amount you will qualify for with your loan. More important to the existing home owner, your being pre-qualified is like your having walked into their house with a suitcase full of cash ready to make the deal! They won't need to worry that they are wasting their time if you don't be able to qualify for a big enough mortgage. The seller won't be concerned that he can't trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't cause them concern. You have the sway of a buyer ready to make the deal on the spot!

We can help you pre-qualify

When we pre-qualify you, we help you figure out how much of a monthly payment you can afford, and the loan amount you can qualify for. We do this by analyzing your income and debts, your work and residence circumstances, your available funds for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, and avoid a lengthy process.

One-on-One

It is vital for you to sit down and meet with us, even though you are free to also use the helpful mortgage calculators on our website. We can work toward your pre-qualification letter. Then, we can make sure we have the right mortgage program for you. We are waiting to meet with you: contact us at 9722039033.

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