The Importance of Pre-Qualification
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It can be important to see a mortgage loan pro first, even if you haven't settled on the kind of home you hope to find. What for? It might be hard to fathom the way we can help even before you start to talk about prices and negotiations.
We can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. We will do this by analyzing your income and debts, your work and residence situations, your funds available for a down payment, required reserves, and some other things. It's short and to the point; We keep the paperwork to a minimum.
After you are considered eligible, we prove our confidence in your ability to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Once you find the house that is best for you, and you decide to make an offer, being pre-qualified for a loan will do a number of things. First, it lets you know the amount that you're able to offer.
Having pre-qualification also will make your offer look even better to the home seller, as if you were bringing them a big box of cash! They will not have to wonder if that they're wasting their time if you can't be able to qualify for a big enough mortgage loan. The seller won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed loan amount will not be something for them to be concerned about. They have a virtual guarantee to trust your ability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly payment you can afford, and the size of loan you can qualify for. The process outlines your finances - your debt, income, employment, cash available for down payment, among other things. It's quick and basic; 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 will be able to help you get your pre-qualification letter. Then, we will make sure we have the best mortgage program for your situation. Contact us at (408) 626-1879 to get started.
Have questions about pre-qualifying? Call us at (408) 626-1879. We answer pre-qualification questions every day.