Why it's Important to Pre-Qualify
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It is valuable to visit with a mortgage professional first, even if you haven't settled on the sort of house to search for. What for? How can we help you if you have not negotiated an amount, and do not know yet the amount you need to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and how much we of a loan you will qualify for. In this process, we determine your borrowing power - looking at your job, available money for down payment, debt, income, and other areas. It is a quick, thorough process with minimal risks for papercuts.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are helping you to find the ideal loan to meet your situation and that we are confident you will qualify for a loan for up to a certain amount.
Armed with your pre-qualification letter, a number of advantages fall at your feet at the point you locate the house you want to make an offer on. First, it lets you know the amount that you're able to offer.
Of greater importance to the seller, your pre-qualification is like your having walked into their front door with a suitcase full of money ready to make the deal! They need not worry that they have been wasting their time if you do not have the ability 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 mortgage in the amount you will need.Your qualifying for your needed loan amount won't cause them concern. You have the capability to back your offer up.
We can help you pre-qualify
Our mortgage professionals can help you determine 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 debts and income, your employment and residence situations, your available funds for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
It's important to sit down and talk with us, even though you are free to also utilize the helpful mortgage calculator tools on this website. For one thing, you will want a Pre-Qualification Letter! Then, we can make sure we have found the best mortgage program for your situation. Let us help you get started: Contact us at 978-422-2311.
Have questions about pre-qualifying? Call us at 978-422-2311. We answer pre-qualification questions every day.