When to Speak to Your Mortgage Professional About Pre-Qualifying
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It's important to see a mortgage professional first, even before you've determined what type of house to search for. What for? How can we help before you have made your offer, and do not know yet how much you want to borrow?
When we pre-qualify you, we help you figure out the amount in monthly payments you can afford, and the loan amount you can qualify for. The process outlines your current financial situation - your debts, income, job, and down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.
We'll award you a Pre-Qualification Letter after you qualify, that says that we are confident you'll qualify for a certain amount of mortgage dollars.
After you find the house that is right for you, and you want to put together an offer, being pre-qualified for a mortgage loan will do several things. First of all, you have some general numbers in mind, as the total you can borrow.
Your pre-qualification will also make your offer look even better to the seller, as if you were bringing them a suitcase of cash! They won't need to be concerned that they're wasting their time if you do not be able to qualify for a big enough mortgage loan. The seller 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 the necessary mortgage loan amount will not be something for them to fret over. You will have the sway of a buyer ready to make the deal right now!
We will help you with your pre-qualification
When we pre-qualify you, we help you decide the amount you can afford in monthly payments you can fit in your budget, and the loan amount you can qualify for. This process takes you through your finances - your debt, income, employment, cash available for down payment, among other things. We require a minimum amount of paperwork, with a short, basic process.
One on one
You can certainly use the mortgage calculators on this site to calculate how much mortgage you'll be able to afford - but it's also valuable to meet with one of our mortgage professionals. That way, we'll help you get your pre-qualification letter. Next, we can consider your mortgage choices to make sure you have found the right one. Contact us at (941) 366-5800 to get started.
Have questions about pre-qualifying? Call us at (941) 366-5800. We answer pre-qualification questions every day.