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It's important to consult with your mortgage loan professional as soon as possible — even before you have started to research neighborhoods. What for? When you don't yet know how much home you want to qualify for, what could we do for you?
We can help determine how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through pre-qualifying. During this process, we look at your borrowing potential - reviewing your earning status, money available for down payment, existing debt, income, and other areas. We ask for a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, will 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 partnering with you to find the right loan to fit your situation and that we are confident you'll qualify for a mortgage up to a certain amount.
Power in the Pre-Qual
After you find a house that is right for you, and you want to put together an offer, being pre-qualified for a mortgage will do several things. First, it helps you know how much you're able to offer.
Of greater importance to the current home owner, your being pre-qualified is like your having entered their house with a bag full of cash ready to purchase their house! They won't need to worry that that they have been wasting their time if you won't be able to be able to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not cause them concern. You can have the clout of a buyer ready to make the purchase right now!
We will help you with your pre-qualification
We can help determine how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through pre-qualifying. During the process, we look at your borrowing potential - looking at your job, available money for down payment, existing debt, income, and other circumstances. It's quick and basic; and we take pride in keeping the paperwork light.
While you are encouraged to benefit from our mortgage calculators on our site, it will be a good idea to sit down and talk with one of our mortgage professional team members. That way, we'll help you get your pre-qualification letter. For another thing, we could find a different mortgage choice that better fits your needs. Contact us at (408) 626-1879 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (408) 626-1879. We answer pre-qualification questions every day.