Why it's Important to Pre-Qualify
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Even if you have not so much as picked out houses to view yet, it's important to visit with your mortgage professional early. Why? How can we help if you have not negotiated a price, and do not know yet how much you want to borrow?
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and how much we of a loan you can qualify for. In this process, we look at your capacity to borrow - reviewing your job, available money for down payment, debts, income, and other circumstances. We require a minimum amount of paperwork, and avoid a lengthy process.
When you are determined to be eligible, we will prove our confidence in your capacity to qualify for a mortgage by giving you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Once you locate the house that catches your eye, and you decide to make an offer, being pre-qualified for a mortgage will do a number of things. The first is that you'll be sure the amount you can afford when calculating the offer.
Of greater importance to the existing home owner, your pre-qualification is like your having entered their house with a suitcase full of money ready to purchase their home! They will not have to wonder if that they're wasting their time if you don't be able to qualify for a high enough mortgage. The seller won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not be something for them to lose sleep over. You have the sway 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 you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. We can accomplish this by considering your income and debts, your employment and residence circumstances, the available funds for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, with a quick process.
One on one
You can always use the calculators here on our website to calculate the size mortgage you'll be able to afford - but it's also important to talk with one of our mortgage professionals. We can begin working on your pre-qualification letter. Then, we'll make sure we have chosen the best mortgage program for your situation. We're waiting to meet with you: call us at (813) 200-7931.
Have questions about pre-qualifying? Call us at (813) 200-7931. We answer pre-qualification questions every day.