The Importance of Pre-Qualifying
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Even if you haven't so much as picked out houses to view yet, it can be valuable to see your mortgage professional early. Why? If you do not know yet how much house you want to qualify for, what can we do for you?
We can help you see how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through pre-qualifying. We accomplish this by analyzing your debts and income, your work and housing circumstances, the funds available for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, with a short,basic process.
At the point you are considered eligible, we document our confidence in your ability to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
When you locate a house that is right for you, and you decide to put together an offer, being pre-qualified for a mortgage will do several things. First, it lets you know the amount that you can offer.
Even more important to the seller, your pre-qualification gives them confidence - as if you had arrived at their home with a big box of cash to make the offer! They need not wonder if they are wasting their time if you can't be able to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't cause them concern. You have the capability to back your offer up.
We will help you pre-qualify
We can help you determine the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. The process outlines your current financial situation - your debt, income, career, cash available for down payment, among other things. It's short and to the point; and we take pride in keeping the paperwork to a minimum.
One on one
It is important to sit down and meet with us, even though you are free to also utilize the helpful mortgage loan calculators on our website. We can work toward your pre-qualification letter. Next, we can study your mortgage options to make sure you have chosen the best one. Contact us at (602) 332-9544 to get started.
Have questions about pre-qualifying? Call us at (602) 332-9544. We answer pre-qualification questions every day.
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