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Even if you have not picked out houses to view yet, it's important to see your mortgage loan professional early. What for? How can we help you before you have negotiated a price, and don't know yet the amount you want to borrow?
When we pre-qualify you, we help you decide the amount in monthly payments you can afford, and the size of loan you will qualify for. During this process, we explore your borrowing capacity - reviewing your earning status, available money for down payment, debt, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
After you are considered eligible, we document our confidence in your ability to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
Armed with your pre-qualification letter, some advantages fall at your feet when you locate the home you want to make an offer for. First, it helps you know the amount that you're able to offer.
Even more important to the seller of the house, your pre-qualification letter gives them certainty - as if you'd come into their house with a big box of cash to make the offer! They need not wonder if that they are wasting their time if you don't be able to qualify for a big enough mortgage. The seller won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We help with your pre-qualification
We can help you see how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through the pre-qualification process. During this process, we calculate your ability to borrow - reviewing your earning status, money available for down payment, debts, income, and other circumstances. It's a short, thorough process with minimal risks for papercuts.
Face to Face
While you are able to benefit from our tools to calculate mortgage variables on this site, it's a good idea to sit down and talk with one of our mortgage professional team members. That way, we will help you get your pre-qualification letter. Then, we will make sure we have chosen the ideal mortgage loan program for you. Let us get you started: Call 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.