Why Pre-Qualification is Important
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It's valuable to visit with a mortgage professional first, even before you have decided what sort of house to look for. Why? When you don't know yet how much house you need to qualify for, what can we help you with?
When we pre-qualify you, we help you figure out the amount in mortgage payments you can fit in your budget, and how much we of a loan you will qualify for. We can achieve this by analyzing your debts and income, your employment and housing circumstances, the available funds for a down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
We'll award you a Pre-Qualification Letter after you qualify, which says that we are confident you can qualify for up to a specific amount of mortgage loan dollars.
After you locate a house that is ideal for you, and you want to put together an offer, being pre-qualified for a loan will do several things. The first is that you'll be sure the amount you will be able to afford when determining the offer.
More important to the home seller, your being pre-qualified is like your having entered their house with a suitcase full of cash ready to make the deal! They won't need to worry that that they have been wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller 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 your needed mortgage loan amount won't be something for them to lose sleep over. You'll have the sway of a buyer ready to make the purchase on the spot!
We can help you pre-qualify
When we pre-qualify you, we help you figure out how much of a monthly payment you can afford, and the loan amount you will qualify for. We do this by considering your income and debts, your employment and housing situations, the funds available for a down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
One on one
It is important to sit down and meet with us, even though you are welcome to also try the helpful mortgage loan calculator tools on this site. That way, we'll help you get your pre-qualification letter. Then, we can make sure we have found the ideal mortgage loan program for your situation. We're eager to meet with you: contact us at (972) 292-0448.
Have questions about pre-qualifying? Call us at (972) 292-0448. We answer pre-qualification questions every day.