Why Pre-Qualification is Important
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Even if you have not narrowed down houses to visit yet, it is advantageous to see your mortgage pro first. What for? What can we do for you if you haven't made an offer, and do not yet know the amount you need to borrow?
We Will Help You Pre-Qualify
Our mortgage professionals will help you find out how much of a loan you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. We do this by reviewing your income and debts, your work and housing circumstances, your funds available for a down payment, required reserves, and other considerations. It's short and to the point; We take pride in keeping the paperwork light.
When you are determined to be eligible, we document our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
With your pre-qualification letter, several advantages are yours when you find the house you want to make an offer for. First, it lets you know the amount that you are able to offer.
Even more important to the seller of the home, your pre-qualification status gives them certainty - as if you'd arrived at their house with a suitcase of cash to make the offer! They won't need to be concerned that they're wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller won't wonder if he can trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your buying power.
We help with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in monthly mortgage payments you can afford, and how much we of a loan you can qualify for. This process walks you through your current financial situation - your debts, income, employment, cash available for down payment, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can always use the calculators on this site to calculate how much mortgage you will be able to afford - but it's also valuable to talk with us. We can walk you through your pre-qualification letter. For another thing, we could find a different mortgage loan option that fits your needs better. Contact us at (707) 252-2700 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (707) 252-2700. Custom Lending Group answers pre-qualifying questions every day.