When to Talk to Your Mortgage Professional About Pre-Qualification
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It is valuable to bring in your mortgage professional as soon as possible — even before you have begun researching neighborhoods. Why? If you do not yet know how much home you want to qualify for, how could we help?
We will help you calculate how much of a mortgage loan you can afford, and how much money you can borrow, by taking you through the pre-qualification process. During this process, we look at your ability to borrow - reviewing your employment, money available for down payment, debts, income, and other circumstances. We ask for a minimum amount of paperwork, with a quick process.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which says that we are partnering with you to find the ideal mortgage to meet your situation and that we're confident you will qualify for a mortgage loan for up to a specific amount.
Armed with your pre-qualification letter, a number of advantages fall at your feet when you locate the house you want to put together an offer on. First of all, you have some concrete numbers in mind, as the total you will qualify for on your mortgage.
Of greater importance to the seller, your being pre-qualified is like your having entered their front door with a bag full of cash to make the deal! They won't need to worry that that they are wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary loan amount will not be something for them to fret over. You have the ability to back up your offer.
We will help you with your pre-qualification
Our mortgage professionals will help you determine how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. We do this by reviewing your debts and income, your employment and residence circumstances, your funds available for down payment, required reserves, and other considerations. It's quick and to the point; and we take pride in keeping the paperwork to a minimum.
One on one
While you are able to use our tools to calculate mortgage variables on this website, it is essential to sit down and talk with us. For one thing, you'll need a Pre-Qualification Letter! For another thing, we could be able to locate a different mortgage program that is a better fit 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.