Why it's Important to Pre-Qualify
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It is important to consult with your mortgage loan professional early — even before you've begun researching neighborhoods. What for? It may be hard to understand the way we can help even before you start to talk about prices and negotiations.
When we pre-qualify you, we help you figure out the amount in monthly payments you can fit in your budget, and how much we of a loan you will qualify for. We can accomplish this by reviewing your income and debts, your work and residence circumstances, your funds available for down payment, required reserves, and other financial considerations. It's short and basic; We take pride in keeping the paperwork light.
Once you are determined to be eligible, we will prove our confidence in your capacity to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Holding your pre-qualification letter, several advantages fall at your feet at the point you locate the home you want to put together an offer for. First, you have some definite numbers in mind, as the total you can borrow.
Being pre-qualified can also make your offer look even better to the seller, like you were bringing them a suitcase full of cash! They won't need to worry that that they are wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller of the home won't worry if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. You can have the influence of a buyer ready to make the purchase on the spot!
We can help you pre-qualify
Our mortgage professionals will help you determine how much of a loan you can qualify for and the mortgage payment amount you can afford by helping you pre-qualify. We will accomplish this by analyzing your income and debts, your work and housing circumstances, your funds available for a down payment, required reserves, and other financial considerations. It is a short, thorough process with minimal risks for papercuts.
Face to Face
While you are able to use our tools to calculate mortgage variables on our site, it's a good idea 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 your situation. Contact us at (972) 292-0448 to get started.
Have questions about pre-qualifying? Call us at (972) 292-0448. We answer pre-qualification questions every day.