Why Pre-Qualification is Important
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It can be helpful to visit with a mortgage loan pro early, even before you have decided the sort of home to search for. What for? When you don't yet know how much house you need to qualify for, what could we help you with?
We will help determine how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. The process walks you through your financial situation - your debts, income, career, and cash available for down payment, among other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
When you qualify, will give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are helping you to find the ideal mortgage loan program to meet your needs and that we're confident you'll qualify for a loan for up to a certain amount.
With your pre-qualification letter, some advantages fall at your feet when you find the home you want to make an offer for. First of all, you have some general numbers in mind, as the amount you will qualify for on your loan.
Of greater importance to the current home owner, your pre-qualification is like your having entered their house with a bag full of cash ready to purchase their home! They will not have to be concerned they are wasting their time if you won't be able to have the ability to qualify for a big enough mortgage. The seller of the home won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
We will help you find out the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. We do this by reviewing your income and debts, your work and housing circumstances, your available funds for a down payment, required reserves, and some other things. It's short and basic; and we keep the paperwork to a minimum.
Face to Face
While you are encouraged to use our mortgage calculators on this site, it's a good idea to sit down and talk with us. For one thing, you'll want a Pre-Qualification Letter! For another thing, we may be able to locate a different mortgage choice that is a better fit for you. We are eager to hear from you: contact us at 978-422-2311.
Have questions about pre-qualifying? Call us at 978-422-2311. PREMIERE MORTGAGE SERVICES, INC. answers pre-qualifying questions every day.