The Importance of Pre-Qualifying
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Even if you haven't researched houses to view yet, it's valuable to see your mortgage pro early. What for? Perhaps it is hard to fathom how we could help even before you begin to calculate your offer.
We Can Help You Pre-Qualify
We will help you calculate how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by walking you through pre-qualifying. In this process, we look at your capacity to borrow - reviewing your employment, money available for down payment, debts, income, and other areas. We will require a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are helping you to find the best mortgage loan program to meet your needs and that we are confident you will qualify for a mortgage loan up to a certain amount.
With your pre-qualification letter, a number of advantages are yours when you find the home you want to make an offer on. First, it helps you know how much you can offer.
Of greater importance to the seller, your pre-qualification is like your having entered their house with a bag full of cash to make the deal! They won't need to be concerned that they are wasting their time if you don't have the ability to qualify for a high 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 the necessary loan amount will not be something for them to lose sleep over. They have a virtual guarantee that they can trust your buying power.
We can help you pre-qualify
When we pre-qualify you, we help you figure out how much of a monthly payment you can fit in your budget, and the size of loan you will qualify for. We will do this by analyzing your debts and income, your employment and housing situations, the funds available for a down payment, required reserves, and other financial considerations. We will require a minimum amount of paperwork, and avoid a lengthy process.
While you can benefit from our mortgage calculators on this site, it's essential to sit down and talk with one of our mortgage professional team members. For one thing, you'll need a Pre-Qualification Letter! For another thing, we may find a different mortgage choice that better fits your needs. Contact us at 978-422-2311 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 978-422-2311. PREMIERE MORTGAGE SERVICES INC. answers pre-qualifying questions every day.