Why Pre-Qualification is Important
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Even if you have not narrowed down homes to visit yet, it's important to visit with your mortgage loan professional first. What for? When you don't know yet how much home you want to qualify for, what can we help you with?
We will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. The process outlines your finances - your debt, income, career, and cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.
After you are considered eligible, we document our confidence in your capacity to qualify for a mortgage by giving you a Pre-Qualification Letter (also called a "pre-qual").
After you find a house that is right for you, and you decide to make an offer, being pre-qualified for a mortgage loan will do a couple of things. First of all, you have some definite numbers in mind, as the amount you will be able to borrow. Being pre-qualified will also make your offer more attractive to the home seller, as if you were bringing them a suitcase of cash! They need not wonder if they have been wasting their time if you can't have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You have the influence of a buyer ready to make the purchase right now!
We will help you pre-qualify
We will help you determine how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. The process leads you through your finances - your debt, income, employment, cash available for down payment, among other things. We as for a minimum amount of paperwork, and avoid a lengthy process.
You can always use the calculators available on this site to calculate the size mortgage you will be able to afford - but it's also essential to talk with us. That way, we can help you get your pre-qualification letter. Next, we can review your mortgage program options to make sure you have chosen the right one. We are waiting to hear from you: contact us at (651) 209-2900.