The Importance of Pre-Qualifying
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Even if you haven't so much as narrowed down houses to view yet, it can be important to visit with your mortgage professional first. What for? How can we help you before you have negotiated an amount, and don't know yet how much you need to borrow?
We Will Help You Pre-Qualify
We can help you calculate how much of a mortgage you can afford, and how much money you can borrow, by walking you through pre-qualifying. We achieve this by reviewing your income and debts, your employment and housing situations, your funds available for down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, with a short,basic process.
When you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are helping you to find the best mortgage loan to meet your financial needs and that we're confident you will qualify for a loan for a specific amount.
Power in the Pre-Qual
With your pre-qualification letter, several advantages are yours at the point you find the house you want to put together an offer for. The first is that you will be sure what you can afford when calculating the offer.
Having pre-qualification will also make your offer look even better to the home seller, as if you were bringing them a suitcase of cash! They won't need to worry that they're wasting their time if you will not be able to qualify for a big enough mortgage. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not be something for them to worry about. They have a virtual guarantee to trust your ability to back up your offer.
We will help you pre-qualify
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 the pre-qualification process. During this process, we calculate your capacity to borrow - looking at your earning status, money available for down payment, debt, income, and other circumstances. It is a short, thorough process with minimal risks for papercuts.
It's important to sit down and talk with us, even though you are free to also utilize the helpful mortgage calculators on this site. We can begin working on your pre-qualification letter. Then, we can make sure we have selected the right 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.