The Importance of Pre-Qualification
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It's valuable to visit with a mortgage loan pro early, even before you have decided what sort of home to search for. What for? It may be hard to fathom how we could help even before you start to calculate your offer.
We Can Help You Pre-Qualify
We will help you calculate how much of a mortgage you can afford, and the amount of money you may be able to borrow, by taking you through pre-qualifying. We do this by considering your income and debts, your employment and housing situations, the available funds for down payment, required reserves, and some other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
We will give you a Pre-Qualification Letter after you qualify, which documents that we're confident you'll qualify for up to a specific amount of mortgage loan dollars.
After you locate the house that is right for you, and you decide to put together an offer, being pre-qualified for a loan will do a couple of things. The first is that you can be sure the amount you'll be able to afford when putting together your offer.
Having pre-qualification can also make your offer look even better to the home seller, as if you were bringing them a suitcase full of cash! They will not need to worry that they're wasting their time if you don't have the ability to qualify for a big enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed loan amount won't cause them concern. You have the 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 afford, and the loan amount you will qualify for. In the process, we determine your borrowing power - looking at your employment, available money for down payment, debts, income, and other circumstances. We as for a minimum amount of paperwork, and avoid a lengthy process.
You can certainly use the calculators on this site to calculate the size mortgage you can afford - but it's also important to talk with us. That way, we will help you get your pre-qualification letter. For another thing, we may locate a different mortgage option that is a better fit for you. Contact us at (434) 975-5626 to get started.
Have questions about pre-qualifying? Call us at (434) 975-5626. It's our job to answer pre-qualification questions, so we're happy to help!
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