Why it's Important to Pre-Qualify
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It's important to bring in your mortgage professional as soon as possible — even before you have started to consider neighborhoods. What for? What can we do for you before you have negotiated a purchase amount, and do not know yet the amount you want to borrow?
When we pre-qualify you, we help you find out the amount in monthly payments you can afford, and the loan amount you will qualify for. We do 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. It's short and to the point; We take pride in keeping the paperwork to a minimum.
We will give you a Pre-Qualification Letter after you qualify, which says that we are confident you'll qualify for up to a certain amount of mortgage dollars.
Power in the Pre-Qual
With your pre-qualification letter, several advantages are yours at the point you find the home you want to put together an offer on. The first is that you will know the amount you will be able to afford when determining your offer.
Even more important to the current owner, your pre-qualification gives them certainty - as if you had arrived at their home with a bag of cash to back up the offer! They will not need to be concerned that they have been wasting their time if you can't be able to qualify for a big enough mortgage loan. The seller of the home won't worry if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. You have the capability to back your offer up.
We will help you pre-qualify
We can help you calculate how much of a mortgage you can afford, and the amount of money you will be able to borrow, by taking you through pre-qualifying. We can do this by considering your income and debts, your work and residence circumstances, the funds available for a down payment, required reserves, and other financial considerations. It is a quick, thorough process with minimal risks for papercuts.
You can certainly use the calculators here on this site to get an idea of how much mortgage you will be able to afford - but it's also important to meet with one of our mortgage professionals. That way, we'll be able to help you get your pre-qualification letter. Then, we will make sure we have the ideal mortgage loan program for you. Contact us at 561-395-4264 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 561-395-4264. It's our job to answer pre-qualification questions, so we're happy to help!