The Importance of Pre-Qualification
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It's valuable to see a mortgage loan pro first, even before you have determined what type of home you hope to find. What for? How can we help if you haven't negotiated an amount, and don't know yet how much you need to borrow?
We Will Help You Pre-Qualify
We can help determine how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through pre-qualifying. This process outlines your finances - your debt, income, job, and cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that documents the fact that we are helping you to find the right mortgage to meet your financial needs and that we're confident you'll qualify for a mortgage for up to a certain amount.
Power in the Pre-Qual
Several advantages open to you once you have found your new house, and have achieved pre-qualification power. First, it helps you know the amount that you're able to offer.
Even more important to the seller of the home, your pre-qualification letter gives them confidence - as if you'd entered their house with a big box of cash to back up the offer! They won't need to worry that they have been wasting their time if you will not have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't cause them concern. You can have the clout of a buyer ready to make the purchase on the spot!
We will help you with your pre-qualification
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can fit in your budget, and the size of loan you will qualify for. This process walks you through your financial situation - your debt, income, career, cash available for down payment, among other things. It's short and basic; and we keep the paperwork to a minimum.
While you are able to benefit from our mortgage calculators on this website, it's a good idea to sit down and talk with us. We can begin working on your pre-qualification letter. For another thing, we could find a different mortgage choice that is a better fit for you. Let us get you started: Contact us at (786) 262-6486.
Have questions about pre-qualifying? Call us at (786) 262-6486. It's our job to answer pre-qualification questions, so we're happy to help!