When to Speak to a Mortgage Professional About Pre-Qualification
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It can be valuable to see a mortgage professional first, even if you haven't settled on what type of house to search for. Why? When you don't yet know how much home you want to qualify for, what can we do for you?
We can help determine how much of a mortgage loan you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. We can do this by considering your debts and income, your work and residence circumstances, your funds available for a down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.
We'll give you a Pre-Qualification Letter when you qualify, that states that we are confident you'll qualify for up to a predetermined amount of mortgage dollars.
Holding your pre-qualification letter, a number of advantages fall at your feet at the point you locate the home you want to make an offer on. The first is that you will be sure what you can afford when determining the offer.
Being pre-qualified also will make your offer look even better to the home seller, like you were bringing them a bag full of cash! They won't need to worry that that they're wasting their time if you can't have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed 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 determine the amount you can afford in monthly payments you can afford, and the loan amount you can qualify for. We will do this by reviewing your debts and income, your employment and housing situations, your funds available for down payment, required reserves, and some other things. It's short and basic; and we take pride in keeping the paperwork light.
One on one
It's vital to sit down and meet with us, even though you are free to also use the helpful mortgage calculator tools on our site. For one thing, you'll want a Pre-Qualification Letter! Then, we can make sure we have selected the right mortgage program for you. Let us help you get started: Call us at (813) 200-7931.
Have questions about pre-qualifying? Call us at (813) 200-7931. We answer pre-qualification questions every day.
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