The Importance of Pre-Qualification
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It is valuable to bring in your mortgage professional as soon as possible — even before you have begun narrowing down neighborhoods. Why? When you do not know yet how much home you want to qualify for, what could we help you with?
When we pre-qualify you, we help you find out the amount in mortgage payments you can fit in your budget, and the loan amount you can qualify for. In the process, we calculate your capacity to borrow - reviewing your employment, money available for down payment, existing debt, income, and other circumstances. We ask for a minimum amount of paperwork, with a quick process.
After you are determined to be eligible, we prove our confidence in your ability to qualify for a mortgage by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Once you locate the house that meets your needs, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. The first is that you will be sure the amount you will be able to afford when putting together your offer.
Of greater importance to the existing home owner, your pre-qualification is like your having walked into their front door with a suitcase full of cash ready to purchase their house! They will not need to worry that that they are wasting their time if you will not be able to qualify for a high enough mortgage loan. The seller of the home won't worry if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. You can have the clout of a buyer ready to make the deal right now!
We will help you with your pre-qualification
We will help you determine the loan amount you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. This process leads you through your current financial situation - your debts, income, career, down payment money, among other things. We will require a minimum amount of paperwork, with a short, basic process.
One on one
You can always use the calculators here on this site to get an idea of how much mortgage you can afford - but it's also valuable to talk with us. For one thing, you'll want a Pre-Qualification Letter! For another thing, we might find a different mortgage program that fits your goals better. We're eager to hear from you: call us at (941) 366-5800.
Have questions about pre-qualifying? Call us at (941) 366-5800. It's our job to answer pre-qualification questions, so we're happy to help!
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