Even if you have not picked out homes to visit yet, it can be important to contact your mortgage professional first. What for? How can we help if you haven't negotiated a price, and don't know yet how much you need to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you find out how much of a monthly payment you can fit in your budget, and how much we of a loan you can qualify for. We will achieve this by analyzing your debts and income, your work and housing circumstances, the funds available for down payment, required reserves, and other considerations. It is a quick, thorough process with minimal risks for papercuts.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are partnering with you to find the right mortgage loan to meet your financial needs and that we are confident you'll qualify for a loan for up to a specific amount.
When you locate a house that meets your needs, and you want to put together an offer, being pre-qualified for a mortgage loan will do a couple of things. First, it helps you know how much you're able to offer.
Even more important to the current owner, your pre-qualification status gives them confidence - as if you'd arrived at their house with a big box of cash to make the offer! They won't have to be concerned they're wasting their time if you will not be able to qualify for a big enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount will not be something for them to be concerned about. You have the ability to back your offer up.
We will help you pre-qualify
We will help you find out how much of a loan you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. We achieve this by reviewing your income and debts, your work and residence circumstances, your funds available for down payment, required reserves, and some other things. It's quick and to the point; and we take pride in keeping the paperwork light.
You can always use the mortgage calculators on our site to get an idea of how much mortgage you will be able to afford - but it's also essential to meet with one of our mortgage professionals. For one thing, you will want a Pre-Qualification Letter! Then, we'll make sure we have found the ideal mortgage loan program for you. We are eager to meet with you: call us at 561-395-4264.
Have questions about pre-qualifying? Call us at 561-395-4264. We answer pre-qualification questions every day.