Why it's Important to Pre-Qualify

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It's valuable to visit with a mortgage loan pro early, even if you haven't decided the kind of home you hope to find. What for? Maybe it is hard to fathom the ways in which we could help even before you begin to talk about prices and negotiations.


We will help you calculate how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through the pre-qualification process. In this process, we explore your borrowing potential - reviewing your job, money available for down payment, debt, income, and other areas. It's quick and basic; We take pride in keeping the paperwork light.

When you are considered eligible, we prove our confidence in your ability to qualify for a loan by giving you a Pre-Qualification Letter (also called a "pre-qual").

Power in the Pre-Qual

With your pre-qualification letter, several advantages fall at your feet when you find the house you want to put together an offer for. First, you have some concrete numbers in mind, as the total you will be able to borrow. Of greater importance to the home seller, your pre-qualification is like your having entered their house with a suitcase full of cash ready to make the deal! They need not be concerned that they are wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount won't be something for them to fret over. You can have the clout of a buyer ready to make the deal on the spot!

We help with your pre-qualification

When we pre-qualify you, we help you figure out the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. This process takes you through your finances - your debt, income, career, cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.


You can certainly use the calculators here on this site to calculate the size mortgage you'll be able to afford - but it's also valuable to talk with us. For one thing, you will want a Pre-Qualification Letter! Next, we can consider your loan options and be sure you are in the right one. Let us get you started: Call us at (434) 975-5626.

Have questions about pre-qualifying? Call us at (434) 975-5626. Crown Mortgage answers pre-qualifying questions every day.

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