The Importance of Pre-Qualification
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It's helpful to consult your mortgage loan professional early — even before you've started to consider neighborhoods. Why? Maybe it's difficult to understand the ways in which we could help even before you begin to calculate your offer.
When we pre-qualify you, we help you decide how much of a monthly payment you can afford, and the size of loan you will qualify for. The process outlines your finances - your debts, income, employment, and cash available for down payment, among other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
At the point you are considered eligible, we document our confidence in your potential to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Several advantages open to you when you have found your new house, and have pre-qualification. First, it lets you know the amount that you can offer.
Even more important to the seller of the house, your pre-qualification gives them confidence - as if you had come into their house with a suitcase of cash to back up the offer! They won't need to be concerned that they're wasting their time if you can't have the ability to qualify for a big enough mortgage. The seller won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not be something for them to fret over. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
Our mortgage professionals can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We accomplish this by reviewing your income and debts, your employment and residence situations, the funds available for a down payment, required reserves, and other considerations. We require a minimum amount of paperwork, and avoid a lengthy process.
One on one
You can always use the mortgage calculators on our site to calculate how much mortgage you will be able to afford - but it's also valuable to talk with one of our mortgage professionals. We can begin getting your pre-qualification letter. For another thing, we could locate a different mortgage choice that fits your situation better. Contact us at (813) 200-7931 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (813) 200-7931. We answer pre-qualification questions every day.
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