When to Talk to a Mortgage Professional
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It is valuable to consult your mortgage professional as soon as possible — even before you've started to consider neighborhoods. Why? Perhaps it is difficult to understand how we can help even before you start to talk about prices and negotiations.
We will help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. In the process, we determine your ability to borrow - analyzing your job, money available for down payment, debt, income, and other areas. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that documents the fact that we are partnering with you to find the ideal loan program to meet your situation and that we're confident you'll qualify for a mortgage loan up to a certain amount.
When you locate the house that catches your eye, and you decide to put together an offer, being pre-qualified for a loan will do a couple of things. The first is that you can know what you'll be able to afford when determining your offer.
Even more important to the present owner, your pre-qualification gives them confidence - as if you'd come into their home with a bag of cash to back up the offer! They need not wonder if they are wasting their time if you will not be able to qualify for a big enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for the necessary loan amount won't cause them concern. They have a virtual guarantee to trust your ability to back up your offer.
We can help you pre-qualify
Our mortgage professionals will help you determine the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. This process leads you through your finances - your debts, income, job, down payment money, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
You can certainly use the mortgage calculators available on this site to get an idea of how much mortgage you'll be able to afford - but it's also essential to talk with us. For one thing, you will want a Pre-Qualification Letter! For another thing, we might locate a different mortgage loan option that fits your needs better. Contact us at 978-422-2311 to get started.
Have questions about pre-qualifying? Call us at 978-422-2311. PREMIERE MORTGAGE SERVICES, INC. answers pre-qualifying questions every day.