Why it's Important to Pre-Qualify
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It is helpful to visit with a mortgage professional first, even before you have decided the kind of house you hope to find. What for? When you don't know yet how much home you need to qualify for, what can we do for you?
When we pre-qualify you, we help you determine the amount in mortgage payments you can afford, and how much we of a loan you can qualify for. In this process, we explore your capacity to borrow - analyzing your employment, money available for down payment, existing debt, income, and other circumstances. It's short and to the point; We take pride in keeping the paperwork to a minimum.
When you are determined to be eligible, we will prove our confidence in your ability to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Holding your pre-qualification letter, a number of advantages fall at your feet at the point you find the house you want to make an offer for. The first is that you will know what you can afford when determining the offer.
Being pre-qualified also will make your offer more attractive to the home seller, like you were bringing them a suitcase full of cash! They won't need to wonder if that they're wasting their time if you will 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 the necessary loan amount won't be something for them to fret over. You have the capability to back your offer up.
We help with your pre-qualification
We will help you calculate how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through pre-qualifying. We accomplish this by reviewing your income and debts, your work and residence situations, your funds available for a down payment, required reserves, and other considerations. It's short and to the point; and we keep the paperwork light.
You can always use the mortgage calculators available on our website to get an idea of how much mortgage you'll be able to afford - but it's also valuable to talk with one of our mortgage professionals. That way, we can help you get your pre-qualification letter. Then, we will make sure we have found the best mortgage loan program for you. Let us help you get started: Call us at (707) 252-2700.
Have questions about pre-qualifying? Call us at (707) 252-2700. We answer pre-qualification questions every day.