The Importance of Pre-Qualification
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Even if you have not picked out houses to visit yet, it's valuable to see your mortgage loan professional first. What for? It might be hard to understand the ways we can help even before you start to talk about prices and negotiations.
We Can Help You Pre-Qualify
We can help you see how much of a mortgage loan you can afford, and how much money you will be able to borrow, by taking you through pre-qualifying. During the process, we explore your borrowing capacity - analyzing your earning status, available money for down payment, debt, income, and other circumstances. It's quick and to the point; We take pride in keeping the paperwork to a minimum.
After you qualify, will present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that says that we are helping you to find the ideal mortgage to fit your needs and that we are confident you will qualify for a mortgage loan up to a specific amount.
Some benefits open to you once you find your next house, and have pre-qualification. First, it helps you know how much you are able to offer. More important to the current home owner, your pre-qualification is like your having entered their front door with a suitcase full of cash ready to make the deal! They won't need to worry that that they have been wasting their time if you can't be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. You have the ability to back your offer up.
We can help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the loan amount you will qualify for. We can achieve this by analyzing your debts and income, your work and residence situations, the available funds for down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
You can always use the calculators on our site to get an idea of how much mortgage you'll be able to afford - but it's also important to talk with us. That way, we'll be able to help you get your pre-qualification letter. Then, we'll make sure we have selected the ideal mortgage program for you. We are eager to hear from you: contact us at (205) 588-0672.
Have questions about pre-qualifying? Call us at (205) 588-0672. We answer pre-qualification questions every day.