When to Speak to Your Mortgage Pro About Pre-Qualification
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It's helpful to see a mortgage loan pro first, even before you have determined the kind of home to search for. Why? What can we do for you if you haven't negotiated an amount, and don't know yet how much you want to borrow?
When we pre-qualify you, we help you figure out the amount in mortgage payments you can afford, and the loan amount you will qualify for. We do this by reviewing your debts and income, your work and residence situations, your available funds for a down payment, required reserves, and other considerations. It's short and to the point; We take pride in keeping the paperwork to a minimum.
At the point you are considered eligible, we will prove our confidence in your capacity to qualify for a mortgage by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Various beneifits open to you when you've found your dream house, and have pre-qualification. First, you have some definite numbers in mind, as the total you will qualify for on your mortgage.
Of greater importance to the seller, your being pre-qualified is like your having walked into their house with a bag full of cash ready to purchase their home! They need not be concerned they are wasting their time if you do not have the ability to qualify for a high enough mortgage loan. 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 won't cause them concern. You will have the clout of a buyer ready to make the purchase on the spot!
We will help you with your pre-qualification
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and how much we of a loan you will qualify for. We will achieve this by analyzing your income and debts, your work and residence situations, your available funds for a down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
It is important to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage calculator tools on our website. We can walk you through your pre-qualification letter. Then, we can make sure we have the best mortgage loan program for your situation. We're waiting to meet with you: call us at (707) 252-2700.
Have questions about pre-qualifying? Call us at (707) 252-2700. We answer pre-qualification questions every day.