When to Talk to Your Mortgage Professional About Pre-Qualifying
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It is important to bring in your mortgage loan professional as soon as possible — even before you have started to research neighborhoods. What for? How can we help if you haven't made an offer, and do not know yet the amount you need to borrow?
We Will Help You Pre-Qualify
Our mortgage professionals will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We will accomplish this by analyzing your income and debts, your work and residence circumstances, the funds available for down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are working with you to find the best loan to meet your needs and that we are confident you will qualify for a loan for up to a specific amount.
Once you find the house that meets your needs, and you decide to make an offer, being pre-qualified for a mortgage will do a couple of things. First, you have some concrete numbers in mind, as the amount you will qualify for on your mortgage loan.
Even more important to the seller of the home, your pre-qualification gives them certainty - as if you'd entered their house with a big box of cash to make the offer! They need not worry that that they are wasting their time if you don't be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to lose sleep over. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
We can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. We will do this by reviewing your debts and income, your work and residence situations, your funds available for down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.
One on one
You can certainly use the calculators here on this website to get an idea of how much mortgage you'll be able to afford - but it's also valuable to meet with us. That way, we'll help you get your pre-qualification letter. For another thing, we could find a different mortgage loan option that better fits your needs. Let us get you 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.