Why Pre-Qualification is Important
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Even if you've not so much as narrowed down houses to view yet, it is important to visit with your mortgage professional early. What for? What can we do for you if you haven't made an offer, and don't yet know how much you want to borrow?
We can help determine how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through the pre-qualification process. This process takes you through your current financial situation - your debts, income, job, and down payment money, among other things. It's quick and to the point; We take pride in keeping the paperwork to a minimum.
When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which documents the fact that we are partnering with you to find the best mortgage loan to fit your needs and that we are confident you will qualify for a mortgage up to a specific amount.
Power in the Pre-Qual
With your pre-qualification letter, several advantages fall at your feet once you locate the home you want to put together an offer for. First of all, you have some definite numbers in mind, as the total you can borrow.
Your pre-qualification will also make your offer more attractive to the home seller, like you were bringing them a suitcase full of cash! They need not wonder if that they have been wasting their time if you don't be able to qualify for a big 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 loan amount will not cause them concern. You will have the clout 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 find out how much of a monthly mortgage payment you can afford, and how much we of a loan you will qualify for. In this process, we determine your borrowing potential - looking at your earning status, money available for down payment, existing debt, income, and other areas. We will ask for a minimum amount of paperwork, with a quick process.
One on one
You can certainly use the mortgage calculators available on this website to calculate how much mortgage you will be able to afford - but it's also valuable to meet with one of our mortgage professionals. That way, we can help you get your pre-qualification letter. Next, we can study your mortgage choices to be sure you have chosen the best one. Let us get you started: Contact us at (561) 392-0040.
Have questions about pre-qualifying? Call us at (561) 392-0040. We answer pre-qualification questions every day.