Why Pre-Qualification is Important
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It is valuable to visit with a mortgage professional early, even before you've decided what sort of house you hope to find. What for? What can we do for you before you have made an offer, and do not yet know the amount you want to borrow?
We can help you calculate how much of a loan you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. This process walks you through your current financial situation - your debt, income, job, and cash available for down payment, among other things. It's short and to the point; We keep the paperwork light.
At the point you are considered eligible, we will prove our confidence in your ability to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
When you find a house that is right for you, and you decide to make an offer, being pre-qualified for a mortgage loan will do a number of things. The first is that you'll know the amount you will be able to afford when determining the offer.
More important to the seller, your being pre-qualified is like your having walked into their house with a suitcase full of money to make the deal! They won't need to wonder if that they are wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. You have the capability to back your offer up.
We will help you with your pre-qualification
We will help determine how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. We will achieve this by considering your debts and income, your work and residence situations, your funds available for down payment, required reserves, and other considerations. It's quick and to the point; and we take pride in keeping the paperwork light.
Face to Face
It's important for you to sit down and meet with us, even though you are free to also utilize the helpful mortgage calculator tools on our site. We can begin working on your pre-qualification letter. Next, we can study your mortgage options to make sure you are in the right one. Contact us at (972) 292-0448 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (972) 292-0448. Affirm Home Loans answers pre-qualifying questions every day.