Why Pre-Qualification is Important
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It is helpful to consult with your mortgage professional early — even before you have started to research neighborhoods. What for? When you don't yet know how much home you need to qualify for, what could we do for you?
We Will Help You Pre-Qualify
We can help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. We will achieve this by reviewing your income and debts, your employment and residence circumstances, the funds available for a down payment, required reserves, and some other things. It's quick and basic; We keep the paperwork to a minimum.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that documents the fact that we are working with you to find the ideal mortgage loan program to meet your needs and that we are confident you will qualify for a mortgage for up to a certain amount.
When you find the house that is right for you, and you decide to put together an offer, being pre-qualified for a mortgage will do a number of things. The first is that you can be sure what you will be able to afford when putting together the offer.
More important to the seller, your pre-qualification is like your having entered their house with a bag full of money to make the deal! They will not have to be concerned that they have been wasting their time if you can't be able to qualify for a high enough mortgage. The seller 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 won't be something for them to lose sleep over. They have a virtual guarantee that they can trust your ability to back up your offer.
We can help you pre-qualify
We can help you find out the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. During this process, we explore your ability to borrow - reviewing your employment, money available for down payment, existing debt, income, and other circumstances. It's quick and to the point; and we keep the paperwork to a minimum.
Face to Face
It is vital for you to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage loan calculators on our website. For one thing, you will need a Pre-Qualification Letter! Then, we'll make sure we have the ideal mortgage loan program for you. Contact us at 918-748-4470/877-748-4470 to get started.
Have questions about pre-qualifying? Call us at 918-748-4470/877-748-4470. It's our job to answer pre-qualification questions, so we're happy to help!