When to Talk to Your Mortgage Pro
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Even if you have not so much as picked out homes to view yet, it's important to contact your mortgage pro first. What for? What can we do for you if you have not made an offer, and do not yet know the amount you want to borrow?
We will help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. During the process, we look at your borrowing power - analyzing your employment, money available for down payment, debt, income, and other circumstances. It's quick and to the point; We keep the paperwork to a minimum.
After you are determined to be eligible, we document our confidence in your ability to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
When you find a house that is best for you, and you decide to make an offer, being pre-qualified for a mortgage will do a number of things. The first is that you can know what you'll be able to afford when determining the offer.
Even more important to the seller of the house, your pre-qualification gives them confidence - as if you had come to their house with a bag of cash to back up the offer! They will not need to worry that they are wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller won't wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount won't be something for them to lose sleep over. You have the clout of a buyer ready to make the purchase on the spot!
We will help you pre-qualify
We will help you determine the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. The process outlines your finances - your debt, income, career, down payment money, among other things. It's quick and to the point; and we keep the paperwork light.
One on one
You can always use the calculators available on this website to calculate how much mortgage you can afford - but it's also valuable to talk with one of our mortgage professionals. For one thing, you'll want a Pre-Qualification Letter! For another thing, we could find a different mortgage program that is a better fit for you. Contact us at (941) 366-5800 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (941) 366-5800. New Millennium Mortgage Co. NMLS: 331173 answers pre-qualifying questions every day.
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