The Importance of Pre-Qualification
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It's important to bring in your mortgage loan professional as soon as possible — even before you've started to research neighborhoods. What for? It may be difficult to fathom the ways in which we could help even before you begin to negotiate.
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. We will accomplish this by considering your debts and income, your employment and housing situations, the funds available for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
After you qualify, we give you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which states that we are helping you to find the right mortgage loan program to fit your needs and that we are confident you will qualify for a loan up to a specific amount.
Some advantages open to you when you have found your next house, and have achieved pre-qualification. First, it helps you know how much you're able to offer.
Even more important to the seller of the house, your pre-qualification letter gives them confidence - as if you had come to their home with a bag of cash to back up the offer! They need not wonder if that they are wasting their time if you will not be able to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for the necessary loan amount won't cause them concern. You have the ability to back up your offer.
We will help you with your pre-qualification
We can help you calculate how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. We will do this by considering your debts and income, your work and housing situations, the funds available for down payment, required reserves, and some other things. We as for a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you are encouraged to use our mortgage calculators on this website, it will be essential to meet with us. We can begin getting your pre-qualification letter. For another thing, we could locate a different mortgage loan option that is a better fit for you. Let us get you started: Contact us at (260) 338-2561.
Have questions about pre-qualifying? Call us at (260) 338-2561. VSI Home Lending answers pre-qualifying questions every day.