The Importance of Pre-Qualifying
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Even if you've not so much as picked out homes to visit yet, it can be advantageous to visit with your mortgage loan professional early. What for? If you don't know yet how much house you want to qualify for, what could we do for you?
We will help you see how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. We achieve this by analyzing your debts and income, your employment and housing situations, your available funds for a down payment, required reserves, and other financial considerations. It's short and basic; We take pride in keeping the paperwork to a minimum.
Once you are considered eligible, we prove our confidence in your potential to qualify for a mortgage by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Several advantages open to you after you find your new house, and have achieved pre-qualification power. First, it lets you know how much you are able to offer.
Even more important to the current owner, your pre-qualification gives them certainty - as if you had arrived at their home with a big box of cash to make the offer! They will not need to worry that they're wasting their time if you don't have the ability to qualify for a big 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 the necessary mortgage loan amount won't cause them concern. They have a virtual guarantee that they can trust your buying power.
We will help you pre-qualify
When we pre-qualify you, we help you find out the amount you can afford in monthly payments you can afford, and the loan amount you can qualify for. The process walks you through your financial situation - your debts, income, employment, cash available for down payment, among other things. It's quick and to the point; and we take pride in keeping the paperwork light.
While you are able to try our tools to calculate mortgage variables on this site, it is essential to sit down and talk with one of our mortgage professional team members. That way, we'll help you get your pre-qualification letter. Then, we will make sure we have selected the ideal mortgage loan program for you. Contact us at (408) 626-1879 to get started.
Have questions about pre-qualifying? Call us at (408) 626-1879. It's our job to answer pre-qualification questions, so we're happy to help!