Why it's Important to Pre-Qualify
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Even if you've not narrowed down houses to visit yet, it's advantageous to contact your mortgage loan professional first. What for? If you don't know yet how much home you want to qualify for, what can we do for you?
We can help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. We will achieve this by considering your debts and income, your employment and housing circumstances, your available funds for down payment, required reserves, and other considerations. We require a minimum amount of paperwork, with a quick process.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that states that we are helping you to find the best mortgage loan program to meet your situation and that we are confident you'll qualify for a mortgage for a specific amount.
Some advantages open to you after you find your new house, and have pre-qualification power. The first is that you'll be sure what you will be able to afford when determining your offer.
Being pre-qualified also will make your offer look even better to the seller, as if you were bringing them a big box of cash! They won't need to worry that they're wasting their time if you can't have the ability to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't cause them concern. They have a virtual guarantee that they can trust your buying power.
We help with your pre-qualification
We will help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through pre-qualifying. During the process, we look at your ability to borrow - analyzing your earning status, available money for down payment, existing debt, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
You can certainly use the calculators here on our website to get an idea of how much mortgage you'll be able to afford - but it's also important to meet with us. We can walk you through your pre-qualification letter. Then, we can make sure we have found the right mortgage loan program for you. Contact us at (478) 746-2063 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (478) 746-2063. We answer pre-qualification questions every day.