The Importance of Pre-Qualifying
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It's helpful to consult your mortgage loan professional early — even before you've started to research neighborhoods. Why? If you don't yet know how much house you need to qualify for, what can we do for you?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you determine the amount in mortgage payments you can afford, and the loan amount you will qualify for. This process leads you through your current financial situation - your debt, income, job, and cash available for down payment, among other things. It's short and basic; We keep the paperwork to a minimum.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that states that we are helping you to find the best loan program to meet your needs and that we're confident you will qualify for a mortgage loan for up to a certain amount.
Holding 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 general numbers in mind, as the amount you will qualify for with your mortgage.
Even more important to the current owner, your pre-qualification gives them confidence - as if you'd come to their home with a suitcase of cash to make the offer! They will not need to be concerned they're wasting their time if you will not be able to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. You can have the sway of a buyer ready to make the deal on the spot!
We will help you with your pre-qualification
We will help you calculate how much of a mortgage loan you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. During this process, we look at your capacity to borrow - looking at your job, money available for down payment, debt, income, and other circumstances. We require a minimum amount of paperwork, with a quick process.
One on one
While you are able to use our mortgage calculators on our website, it is essential to meet with one of our mortgage professional team members. We can walk you through your pre-qualification letter. Then, we'll make sure we have the right mortgage loan program for you. Let us get you started: Call us at 719-425-2226.
Have questions about pre-qualifying? Call us at 719-425-2226. It's our job to answer pre-qualification questions, so we're happy to help!