When to Speak to Your Mortgage Pro About Pre-Qualification
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Even if you have not so much as narrowed down homes to visit yet, it is valuable to see your mortgage professional first. What for? If you don't yet know how much house you want to qualify for, what could we help you with?
We will help determine how much of a mortgage you can afford, and the amount of money you may be able to borrow, by taking you through the pre-qualification process. We can do this by analyzing your debts and income, your employment and residence circumstances, the funds available for a down payment, required reserves, and other financial considerations. We ask for a minimum amount of paperwork, and avoid a lengthy process.
We will award you a Pre-Qualification Letter if you qualify, that states that we're confident you'll qualify for a certain amount of mortgage loan dollars.
Power in the Pre-Qual
After you locate a house that meets your needs, and you want to put together an offer, being pre-qualified for a mortgage will do several things. First, you have some concrete numbers in mind, as the amount you will qualify for with your mortgage.
Even more important to the seller of the house, your pre-qualification letter gives them confidence - as if you'd entered their home with a suitcase of cash to back up the offer! They will not need to wonder if they are wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller of the home won't wonder 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 will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We can help you pre-qualify
We can help you see how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through the pre-qualification process. We do this by reviewing your income and debts, your work and residence circumstances, the available funds for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
It is vital to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage calculators on our site. That way, we'll help you get your pre-qualification letter. For another thing, we may be able to locate a different mortgage loan option that is a better fit for you. Contact us at (478) 746-2063 to get started.
Have questions about pre-qualifying? Call us at (478) 746-2063. MidTowne Mortgage answers pre-qualifying questions every day.