Why it's Important to Pre-Qualify
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It's valuable to visit with a mortgage professional early, even if you haven't decided what sort of house to search for. What for? Maybe it is hard to understand the ways we could help even before you begin to calculate your offer.
We Can Help You Pre-Qualify
When we pre-qualify you, we help you find out how much of a monthly mortgage payment you can fit in your budget, and the loan amount you can qualify for. The process walks you through your current financial situation - your debts, income, employment, and down payment money, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, we present to you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which states that we are helping you to find the right mortgage to meet your situation and that we are confident you will qualify for a mortgage for a certain amount.
Once you locate the house that catches your eye, and you decide to put together an offer, being pre-qualified for a loan will do several things. First, you have some concrete numbers in mind, as the total you will qualify for on your mortgage.
More important to the existing home owner, your pre-qualification is like your having entered their house with a suitcase full of money to make the deal! They won't need to wonder if that they have been wasting their time if you can't be able to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary loan amount will not be something for them to be concerned about. You have the capability to back up your offer.
We will help you pre-qualify
When we pre-qualify you, we help you determine the amount you can afford in monthly payments you can fit in your budget, and the loan amount you will qualify for. During this process, we calculate your ability to borrow - analyzing your job, available money for down payment, debts, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
It is vital to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage loan calculators on this site. That way, we will help you get your pre-qualification letter. Then, we will make sure we have the best mortgage program for you. Contact us at 978-422-2311 to get started.
Have questions about pre-qualifying? Call us at 978-422-2311. It's our job to answer pre-qualification questions, so we're happy to help!