Why it's Important to Pre-Qualify
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It can be valuable to see a mortgage loan pro first, even if you haven't settled on what type of home you hope to find. Why? It may be hard to understand the ways we could help even before you start to negotiate.
We will help you determine the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. During this process, we explore your ability to borrow - reviewing your earning status, money available for down payment, debts, income, and other areas. We require a minimum amount of paperwork, and avoid a lengthy process.
Once you are determined to be eligible, we document our confidence in your potential to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
When you locate a house that catches your eye, and you want to make an offer, being pre-qualified for a mortgage loan will do several things. First, it helps you know how much you can offer.
Even more important to the seller of the home, your pre-qualification status gives them certainty - as if you had come to their house with a big box of cash to make the offer! They won't have to wonder if they're wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to be concerned about. You have the ability to back up your offer.
We help with your pre-qualification
We can help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through pre-qualifying. The process outlines your finances - your debt, income, career, cash available for down payment, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you are able to benefit from our tools to calculate mortgage variables on our website, it will be essential to meet with us. We can begin working on your pre-qualification letter. For another thing, we might be able to locate a different mortgage program that fits your goals better. 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.
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