When to Talk to Your Mortgage Professional About Pre-Qualifying
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Even if you haven't so much as picked out homes to view yet, it can be advantageous to contact your mortgage professional first. Why? What can we do for you if you haven't made your offer, and don't know yet how much you need to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can fit in your budget, and the loan amount you will qualify for. We do this by analyzing your income and debts, your work 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.
When you qualify, we give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which says that we are helping you to find the best loan program to meet your needs and that we're confident you'll qualify for a mortgage up to a specific amount.
Power in the Pre-Qual
With your pre-qualification letter, a number of advantages are yours at the point you locate the home you want to put together an offer on. The first is that you will know 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 certainty - as if you'd come into their home with a bag of cash to make the offer! They will not have to be concerned they are wasting their time if you can't be able to qualify for a high enough mortgage loan. The seller of the home 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 sway of a buyer ready to make the deal on the spot!
We will help you with your pre-qualification
We can help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through pre-qualifying. We accomplish this by analyzing your debts and income, your employment and housing situations, the available funds for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
While you are encouraged to try our tools to calculate mortgage variables on our website, it will be a good idea to sit down and talk with one of our mortgage professional team members. That way, we'll be able to help you get your pre-qualification letter. Next, we can review your loan options and make sure you are in the right one. We are waiting to meet with you: call us at (407) 889-4321.
Have questions about pre-qualifying? Call us at (407) 889-4321. It's our job to answer pre-qualification questions, so we're happy to help!