Why it's Important to Pre-Qualify
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It's helpful to see a mortgage professional early, even if you haven't settled on what type of home you hope to find. What for? If you don't know yet how much house you need to qualify for, what could we help you with?
We Will Help You Pre-Qualify
Our mortgage professionals will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. In the process, we calculate your capacity to borrow - analyzing your employment, available money for down payment, debts, income, and other circumstances. It's quick and basic; We keep the paperwork light.
When you qualify, we give you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which says that we are helping you to find the right mortgage loan to fit your financial needs and that we are confident you will qualify for a loan for up to a specific amount.
After you locate the house that catches your eye, and you want to make an offer, being pre-qualified for a loan will do several things. The first is that you will be sure what you'll be able to afford when determining your offer.
Even more important to the seller of the home, your pre-qualification gives them confidence - as if you'd come into their house with a big box of cash to back up the offer! They will not need to be concerned 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 trust you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to lose sleep over. They have a virtual guarantee to trust your ability to back up your offer.
We will help you pre-qualify
We will help you find out how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. During the process, we determine your borrowing capacity - reviewing your earning status, available money for down payment, existing debt, income, and other areas. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
You can always use the calculators here on our site to calculate the size mortgage you will be able to afford - but it's also essential to meet with one of our mortgage professionals. For one thing, you will need a Pre-Qualification Letter! Then, we can make sure we have the ideal mortgage loan program for your situation. We're eager to meet with you: contact us at (408) 626-1879.
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!