The Importance of Pre-Qualification

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It is important to bring in your mortgage professional early — even before you have begun researching neighborhoods. What for? When you don't know yet how much home you want to qualify for, how could we help?

Pre-Qualify

We can help determine how much of a mortgage you can afford, and how much money you can borrow, by walking you through the pre-qualification process. In the process, we explore your borrowing power - looking at your earning status, money available for down payment, debt, income, and other circumstances. We will ask for a minimum amount of paperwork, and avoid a lengthy process.

When you qualify, will give you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are helping you to find the ideal loan program to fit your financial needs and that we are confident you will qualify for a loan for up to a specific amount.

Buying Clout

With your pre-qualification letter, some advantages fall at your feet when you locate the home you want to make an offer for. First, it helps you know how much you're able to offer. Of greater importance to the home seller, your being pre-qualified is like your having entered their front door with a suitcase full of money ready to make the deal! They will not need to wonder if they're wasting their time if you do not have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't be something for them to be concerned about. They have a virtual guarantee that they can trust your buying power.

We can help you pre-qualify

Our mortgage professionals will help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. During this process, we look at your borrowing capacity - looking at your job, available money for down payment, debt, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.

One on one

You can certainly use the calculators on this site to get an idea of how much mortgage you will be able to afford - but it's also important to meet with us. We can begin working on your pre-qualification letter. For another thing, we could locate a different mortgage program that is a better fit for you. Let us get you started: Contact us at 8132007931.

Have questions about pre-qualifying? Call us at 8132007931. Sky Apply Mortgage, Inc answers pre-qualifying questions every day.