Why Pre-Qualification is Important
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It is important to bring in your mortgage professional as soon as possible — even before you've started researching neighborhoods. Why? It may be hard to understand the way we can help even before you start to negotiate.
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can fit in your budget, and the loan amount you can qualify for. The process outlines your finances - your debts, income, job, and down payment money, among other things. We require a minimum amount of paperwork, with a quick process.
Once you are considered eligible, we will prove our confidence in your potential to qualify for a mortgage by giving you a Pre-Qualification Letter (also called a "pre-qual").
Once you locate a house that catches your eye, and you decide to make an offer, being pre-qualified for a mortgage loan will do several things. The first is that you can know what you can afford when putting together the offer.
Even more important to the seller, your pre-qualification status gives them certainty - as if you had entered their home with a suitcase of cash to back up the offer! They will not need to worry that they're wasting their time if you will not have the ability to qualify for a big enough mortgage. The seller won't worry if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the ability to back your offer up.
We help with your pre-qualification
When we pre-qualify you, we help you find out the amount you can afford in monthly mortgage payments you can fit in your budget, and the size of loan you will qualify for. During the process, we explore your capacity to borrow - looking at your employment, money available for down payment, debts, income, and other circumstances. We as for a minimum amount of paperwork, with a quick process.
You can certainly use the mortgage calculators available on our site to get an idea of how much mortgage you can afford - but it's also valuable to talk with one of our mortgage professionals. We can walk you through your pre-qualification letter. Then, we will make sure we have found the ideal mortgage program for you. Let us get you started: Call us at (407) 898-7559.
Have questions about pre-qualifying? Call us at (407) 898-7559. We answer pre-qualification questions every day.
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