When to Talk to Your Mortgage Professional About Pre-Qualifying
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Even if you've not so much as picked out homes to visit yet, it can be important to visit with your mortgage loan professional first. Why? When you don't yet know how much house you need to qualify for, what can we help you with?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you find out how much of a monthly payment you can afford, and how much we of a loan you can qualify for. In the process, we calculate your borrowing potential - looking at your employment, available money for down payment, debts, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
Once you are considered eligible, we prove our confidence in your capacity to qualify for a mortgage by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
After you locate a house that is best for you, and you decide to put together an offer, being pre-qualified for a mortgage will do a number of things. First, it lets you know how much you're able to offer.
Being pre-qualified can also make your offer look even better to the seller, like you were bringing them a suitcase of cash! They will not have to worry that they have been wasting their time if you won't be able to have the ability to qualify for a big enough mortgage. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to lose sleep over. They have a virtual guarantee that they can trust your buying power.
We will help you pre-qualify
We can help you calculate how much of a mortgage you can afford, and the amount of money you may be able to borrow, by walking you through the pre-qualification process. In the process, we explore your ability to borrow - looking at your job, money available for down payment, debts, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
You can certainly use the calculators here on our site to calculate the size mortgage you'll be able to afford - but it's also important to meet with one of our mortgage professionals. We can work toward your pre-qualification letter. Then, we can make sure we have selected the best mortgage program for your situation. Let us help you get started: Call us at (478) 746-2063.
Have questions about pre-qualifying? Call us at (478) 746-2063. It's our job to answer pre-qualification questions, so we're happy to help!