Why Pre-Qualification is Important

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It is important to see a mortgage loan pro early, even if you haven't decided the kind of home you hope to find. Why? How can we help before you have negotiated a purchase amount, and don't know yet how much you want to borrow?

Pre-Qualify

When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and how much we of a loan you can qualify for. During this process, we determine your borrowing power - looking at your job, available money for down payment, debts, income, and other areas. It is a short, thorough process with minimal risks for papercuts.

When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that documents the fact that we are helping you to find the ideal loan to fit your needs and that we're confident you will qualify for a loan up to a certain amount.

Buying Power

With your pre-qualification letter, some advantages are yours at the point you find the house you want to make an offer on. First, it helps you know how much you're able to offer. Even more important to the seller of the house, your pre-qualification gives them confidence - as if you'd come to their house with a suitcase of cash to back up the offer! They won't need to worry that that they're wasting their time if you do not be able to qualify for a big 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 won't be something for them to worry about. You have the sway of a buyer ready to make the purchase right now!

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 afford, and the size of loan you can qualify for. In the process, we calculate your borrowing power - looking at your job, available money for down payment, debt, income, and other circumstances. It's quick and basic; and we take pride in keeping the paperwork to a minimum.

Face to Face

While you are encouraged to use our mortgage calculators on our site, it will be essential to sit down and talk with us. We can work toward your pre-qualification letter. Then, we'll make sure we have the best mortgage loan program for your situation. Let us help you get started: Call us at 978-422-2311.

Have questions about pre-qualifying? Call us at 978-422-2311. We answer pre-qualification questions every day.