Why Pre-Qualification is Important
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It can be helpful to see a mortgage professional first, even before you've determined the kind of house you hope to find. What for? Maybe it's hard to fathom how we could help even before you start to negotiate.
We will help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. In the process, we determine your borrowing capacity - analyzing your job, available money for down payment, existing debt, income, and other circumstances. It's short and basic; We take pride in keeping the paperwork to a minimum.
After you are considered eligible, we document our confidence in your potential to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Several beneifits open to you after you have found your next house, and have achieved pre-qualification power. First, it helps you know the amount that you're able to offer.
Your pre-qualification also will make your offer look even better to the seller, as if you were bringing them a big box of cash! They won't need to wonder if they are wasting their time if you don't have the ability to qualify for a high enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly payment you can fit in your budget, and how much we of a loan you will qualify for. We will achieve this by analyzing your debts and income, your work and residence situations, the available funds for a down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
Face to Face
It's vital for you to sit down and meet with us, even though you are free to also try the helpful mortgage loan calculators on this website. That way, we'll help you get your pre-qualification letter. Then, we can make sure we have found the right mortgage loan program for you. We are waiting to hear from you: contact us at 918-748-4470/877-748-4470.
Have questions about pre-qualifying? Call us at 918-748-4470/877-748-4470. We answer pre-qualification questions every day.