Why Pre-Qualification is Important
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It's helpful to see a mortgage professional early, even if you haven't settled on what type of house you hope to find. What for? When you do not yet know how much house you want to qualify for, how could we help?
We Can Help You Pre-Qualify
Our mortgage professionals can help you determine how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. During the process, we calculate your capacity to borrow - looking at your employment, available money for down payment, debt, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which documents the fact that we are working with you to find the right mortgage loan to meet your financial needs and that we are confident you will qualify for a mortgage loan up to a certain amount.
Once you find a house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage loan will do a couple of things. First, it helps you know how much you're able to offer. Being pre-qualified can also make your offer look even better to the home seller, like you were bringing them a suitcase full of cash! They need not be concerned they're wasting their time if you don't be able to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not be something for them to lose sleep over. You have the clout of a buyer ready to make the deal right now!
We will help you with your pre-qualification
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and the size of loan you will qualify for. We can accomplish this by analyzing your income and debts, your employment and residence situations, your available funds for a down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.
Face to Face
You can certainly use the calculators available on our site to get an idea of how much mortgage you will be able to afford - but it's also essential to meet with one of our mortgage professionals. We can work toward your pre-qualification letter. For another thing, we could locate a different mortgage choice that better fits your needs. Let us help you get started: Call us at 602-647-2555.
Have questions about pre-qualifying? Call us at 602-647-2555. Scott Fenner & The Mortgage Team answers pre-qualifying questions every day.