December 27th, 2021 12:33 PM by Holly Ecimovic
Even if you haven't so much as researched houses to visit yet, it is valuable to visit with your mortgage pro first.
How can we help you before you have made an offer, and do not yet know the amount you want to borrow?
When we pre-qualify you, we help you find out the amount in monthly payments you can afford, and the loan amount you will qualify for.
We will achieve this by analyzing your debts and income, your work and residence situations, your funds available for a down payment, required reserves, and other considerations.
We will ask for a minimum amount of paperwork, and avoid a lengthy process.
We will award you a Pre-Qualification Letter after you qualify, that documents that we're confident you can qualify for up to a predetermined amount of mortgage loan dollars.
Several advantages open to you once you find your new house, and have achieved pre-qualification power.
The first is that you'll 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 gives them certainty - as if you'd come into their house with a suitcase of cash to back up the offer!
They won't have to be concerned they're wasting their time if you won't be able to qualify for a high enough mortgage loan.
The seller won't be concerned that he can't count on you to qualify for your loan.
Your qualifying for your needed loan amount won't be something for them to fret over. They have a virtual guarantee that they can trust your ability to back up your offer.
Our mortgage professionals can help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified.
This process leads you through your current financial situation - your debt, income, job, down payment money, among other things. It's short and basic; and we keep the paperwork light.
While you can use our mortgage calculators on this site, it's a good idea to sit down and talk with one of our mortgage professional team members.
We can walk you through your pre-qualification letter.
Next, we can review your mortgage choices to be sure you are in the best one. Let us get you started: Call us at 407-834-3377.