The Importance of Pre-Qualification
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It is important to see a mortgage loan pro first, even if you haven't settled on what type of house to look for. What for? It might be difficult to fathom how we could help even before you start to negotiate.
When we pre-qualify you, we help you determine the amount in monthly payments you can fit in your budget, and the loan amount you can qualify for. In the process, we explore your borrowing capacity - analyzing your earning status, available money for down payment, debt, income, and other areas. We ask for a minimum amount of paperwork, and avoid a lengthy process.
We will award you a Pre-Qualification Letter when you qualify, that says that we are confident you'll qualify for a certain amount of mortgage dollars.
A number of advantages open to you after you've found your dream house, and have achieved pre-qualification. First of all, you have some general numbers in mind, as the amount you will be able to borrow.
Having pre-qualification also will make your offer look even better to the seller, as if you were bringing them a big box of cash! They need not wonder if they're wasting their time if you can't 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 will need.Your qualifying for your needed mortgage loan amount will not be something for them to worry about. You have the ability to back up your offer.
We will help you with your pre-qualification
We will help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. We can achieve this by reviewing your income and debts, your work and residence situations, your available funds for down payment, required reserves, and some other things. It's short and to the point; and we take pride in keeping the paperwork light.
While you can use our mortgage calculators on our website, it's essential to sit down and talk with us. We can begin getting your pre-qualification letter. Next, we can consider your mortgage choices to make sure you are in the right one. Contact us at (260) 338-2561 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (260) 338-2561. We answer pre-qualification questions every day.