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It's helpful to bring in your mortgage loan professional as soon as possible — even before you've started to research neighborhoods. Why? Maybe it is hard to understand how we can help even before you begin to negotiate.
Our mortgage professionals can help you determine how much of a loan you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. This process outlines your finances - your debt, income, employment, and down payment money, among other things. It's short and basic; We keep the paperwork light.
Once you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that documents the fact that we are partnering with you to find the right mortgage loan program to fit your financial needs and that we're confident you'll qualify for a mortgage loan up to a certain amount.
Power in the Pre-Qual
A number of advantages open to you when you find your dream house, and have achieved pre-qualification. The first is that you can be sure what you'll be able to afford when determining the offer.
Even more important to the seller of the home, your pre-qualification letter gives them confidence - as if you had entered their house with a big box of cash to back up the offer! They won't have to wonder if that they have been wasting their time if you will not be able to qualify for a big enough mortgage loan. The seller won't be concerned that he can't trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the capability to back up your offer.
We will help you pre-qualify
We will help you calculate how much of a mortgage you can afford, and the amount of money you will be able to borrow, by walking you through the pre-qualification process. We will do this by considering your debts and income, your employment and residence circumstances, the funds available for down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
It is important for you to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage calculator tools on this website. We can walk you through your pre-qualification letter. Next, we can study your mortgage program options and be sure you have selected the right one. Let us get you started: Call us at (972) 292-0448.
Have questions about pre-qualifying? Call us at (972) 292-0448. We answer pre-qualification questions every day.