The Importance of Pre-Qualification
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It's important to bring in your mortgage professional as soon as possible — even before you've started to research neighborhoods. What for? When you don't know yet how much home you need to qualify for, what could we help you with?
When we pre-qualify you, we help you decide how much of a monthly payment you can afford, and how much we of a loan you will qualify for. In the process, we calculate your ability to borrow - looking at your earning status, available money for down payment, existing debt, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
After you are determined to be eligible, we prove our confidence in your potential to qualify for a mortgage by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Armed with your pre-qualification letter, several advantages fall at your feet when you find the home you want to put together an offer for. First, it lets you know how much you can offer.
Even more important to the seller, your pre-qualification status gives them certainty - as if you'd come to their home with a suitcase of cash to back up the offer! They will not need to be concerned that they are wasting their time if you do not have the ability to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.
We can help you pre-qualify
We can help determine how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through the pre-qualification process. In this process, we calculate your capacity to borrow - looking at your job, money available for down payment, debts, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
One on one
You can always use the calculators on this website to get an idea of how much mortgage you can afford - but it's also valuable to talk with one of our mortgage professionals. For one thing, you will want a Pre-Qualification Letter! Next, we can review your loan options and make sure you have found the best one. Let us get you started: Call us at 949-544-4908.
Have questions about pre-qualifying? Call us at 949-544-4908. We answer pre-qualification questions every day.