The Importance of Pre-Qualification
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Even if you've not so much as narrowed down houses to view yet, it can be important to visit with your mortgage professional first. Why? It may be difficult to understand the way we could help even before you begin to negotiate.
Our mortgage professionals 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 will do this by analyzing your debts and income, your employment and residence situations, your funds available for a down payment, required reserves, and other financial considerations. It's short and to the point; We take pride in keeping the paperwork to a minimum.
After you are determined to be eligible, we document our confidence in your capacity to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
After you locate the house that meets your needs, and you want to make an offer, being pre-qualified for a loan will do several things. First, you have some definite numbers in mind, as the total you will qualify for on your mortgage loan.
Your pre-qualification will also make your offer look even better to the home seller, like you were bringing them a bag full of cash! They need not wonder if that they're wasting their time if you can't be able to qualify for a big enough mortgage. The seller of the home won't worry if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
We can help you calculate the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. In this process, we calculate your borrowing capacity - reviewing your job, money available for down payment, debts, income, and other areas. We will require a minimum amount of paperwork, with a quick process.
One on one
It's important to sit down and talk with us, even though you are welcome to also use the helpful mortgage loan calculators on this website. That way, we'll be able to help you get your pre-qualification letter. For another thing, we might find a different mortgage choice that better fits your needs. We're waiting to meet with you: contact us at 2603382561.
Have questions about pre-qualifying? Call us at 2603382561. VSI Home Lending answers pre-qualifying questions every day.