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It is valuable to visit with a mortgage professional first, even if you haven't settled on the sort of house to search for. What for? If you do not know yet how much house you need to qualify for, what can we help you with?
We will help determine how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. This process leads you through your finances - your debt, income, employment, and cash available for down payment, among other things. We will ask for a minimum amount of paperwork, with a quick process.
When you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says 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 loan for a specific amount.
Holding your pre-qualification letter, several advantages are yours at the point you find the house you want to make an offer for. The first is that you will know the amount you will be able to afford when determining the offer.
Even more important to the present owner, your pre-qualification status gives them certainty - as if you had entered their house with a suitcase of cash to make the offer! They won't need to wonder if they have been wasting their time if you do not be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount will not be something for them to lose sleep over. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
When we pre-qualify you, we help you decide how much of a monthly payment you can fit in your budget, and how much we of a loan you will qualify for. This process outlines your finances - your debts, income, career, down payment money, among other things. It's quick and to the point; and we keep the paperwork to a minimum.
Face to Face
It is important to sit down and talk with us, even though you are free to also try the helpful mortgage loan calculators on this site. We can work toward your pre-qualification letter. Next, we can review your mortgage loan choices and be sure you are in the best one. Let us help you get started: Contact us at 719-425-2226.
Have questions about pre-qualifying? Call us at 719-425-2226. Affinity Mortgage Brokers answers pre-qualifying questions every day.