Even if you’ve not researched houses to view yet, it is valuable to visit with your mortgage loan professional early. Why? It might be hard to understand the ways we could help even before you begin to negotiate.
We will help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. In this process, we look at your borrowing power – reviewing your employment, money available for down payment, existing debt, income, and other areas. It’s short and to the point; We keep the paperwork to a minimum.
When you are considered eligible, we will prove our confidence in your ability to qualify for a mortgage by presenting you with a Pre-Qualification Letter (also known as a “pre-qual”).
With your pre-qualification letter, several advantages fall at your feet when you find the home you want to put together an offer for. The first is that you can know what you can afford when determining the offer. Even more important to the seller of the house, your pre-qualification gives them certainty – as if you had come into their house with a bag of cash to make the offer! They will not need to worry that that they have been wasting their time if you will not be able to qualify for a high enough mortgage. The seller won’t wonder 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 be something for them to worry about. They have a virtual guarantee to trust your buying power.
We can help you pre-qualify
We can 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. In the process, we explore your capacity to borrow – reviewing your earning status, money available for down payment, debt, income, and other areas. It’s a quick, thorough process with minimal risks for papercuts.
One on one
You can always use the mortgage calculators here on our website to get an idea of how much mortgage you will be able to afford – but it’s also valuable to meet with us. That way, we’ll help you get your pre-qualification letter. Next, we can consider your mortgage program choices to be sure you are in the right one. Let us help you get started: Call us at 801-639-9000.