Why it's Important to Pre-Qualify
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Even if you haven't so much as researched homes to visit yet, it's important to visit with your mortgage professional first. Why? If you do not know yet how much house you want to qualify for, how could we help?
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 the pre-qualification process. We can achieve this by considering your income and debts, your work and housing circumstances, the available funds for a down payment, required reserves, and other financial considerations. It's short and to the point; We keep the paperwork to a minimum.
When you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are working with you to find the right mortgage loan program to fit your financial needs and that we're confident you will qualify for a mortgage loan up to a certain amount.
With your pre-qualification letter, several advantages are yours once you locate the home you want to put together an offer for. The first is that you can know the amount you can afford when calculating your offer.
Even more important to the present owner, your pre-qualification status gives them confidence - as if you had entered their home with a bag of cash to back up the offer! They will not need to wonder if they are wasting their time if you don't have the ability to qualify for a high enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for the necessary loan amount will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you pre-qualify
We will help you see how much of a mortgage loan you can afford, and how much money you may be able to borrow, by walking you through the pre-qualification process. During this process, we determine your capacity to borrow - looking at your job, money available for down payment, debt, income, and other circumstances. We as for a minimum amount of paperwork, with a short, basic process.
One on one
It is vital to sit down and meet with us, even though you are welcome to also try the helpful mortgage calculator tools on our website. That way, we'll be able to help you get your pre-qualification letter. Then, we will make sure we have chosen the ideal mortgage program for you. We're eager to meet with you: contact us at 561-395-4264.
Have questions about pre-qualifying? Call us at 561-395-4264. We answer pre-qualification questions every day.