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It's helpful to consult with your mortgage professional as soon as possible — even before you've begun narrowing down neighborhoods. What for? When you don't yet know how much home you need to qualify for, how can we help?
We will help you see how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through pre-qualifying. We achieve this by considering your debts and income, your employment and housing circumstances, your available funds for down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
At the point you are considered eligible, we document 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, some advantages fall at your feet at the point you locate the home you want to make an offer for. The first is that you will know what you'll 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 money to purchase their home! They won't need to be concerned that they are wasting their time if you won't be able to have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't be something for them to worry about. You have the ability to back your offer up.
We will help you with your pre-qualification
When we pre-qualify you, we help you find out the amount you can afford in monthly payments you can afford, and the loan amount you can qualify for. In the process, we determine your borrowing capacity - analyzing your earning status, available money for down payment, debt, income, and other areas. We will require a minimum amount of paperwork, and avoid a lengthy process.
One on one
You can certainly use the mortgage calculators here on this site to calculate how much mortgage you'll be able to afford - but it's also important to meet with us. That way, we'll be able to help you get your pre-qualification letter. For another thing, we might locate a different mortgage loan option that is a better fit for you. Contact us at (407) 889-4321 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (407) 889-4321. We answer pre-qualification questions every day.