Why Pre-Qualification is Important
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It's valuable to visit with a mortgage professional early, even before you have determined what type of home you hope to find. What for? How can we help before you have made your offer, and do not yet know how much you want to borrow?
We can help you calculate the loan amount you can qualify for and the mortgage payment amount you can afford by helping you pre-qualify. We accomplish this by considering your income and debts, your work and housing situations, your available funds for down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
At the point you are considered eligible, we will prove our confidence in your ability to qualify for a mortgage by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Various beneifits open to you after you find your next house, and have achieved pre-qualification. The first is that you can know the amount you will be able to afford when calculating your offer.
More important to the seller, your being pre-qualified is like your having walked into their house with a suitcase full of cash to purchase their home! They will not need to be concerned they have been wasting their time if you don't be able to qualify for a high enough mortgage. 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 cause them concern. They have a virtual guarantee that they can trust your buying power.
We help with your pre-qualification
We can help you see how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. During the process, we calculate your ability to borrow - reviewing your earning status, available money for down payment, debts, income, and other circumstances. It's short and basic; and we take pride in keeping the paperwork light.
Face to Face
It is important to sit down and talk with us, even though you are free to also use the helpful mortgage calculator tools on this website. That way, we can help you get your pre-qualification letter. Then, we'll make sure we have the right mortgage loan program for you. 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.