The Importance of Pre-Qualification
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Even if you have not so much as researched homes to visit yet, it's valuable to see your mortgage professional first. Why? How can we help you before you have negotiated a price, and don't yet know the amount you need to borrow?
We can help you see how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. We achieve this by considering your debts and income, your employment and housing situations, the funds available for down payment, required reserves, and other financial considerations. It's short and to the point; We keep the paperwork to a minimum.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that documents the fact that we are helping you to find the right mortgage loan program to meet your situation and that we're confident you will qualify for a loan for up to a specific amount.
With your pre-qualification letter, several advantages fall at your feet when you find the house you want to put together an offer for. The first is that you can know what you'll be able to afford when determining your offer.
More important to the home seller, your pre-qualification is like your having walked into their house with a suitcase full of money to purchase the home! They won't have to wonder if that they have been wasting their time if you do not be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We help with your pre-qualification
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 helping you pre-qualify. This process outlines your finances - your debts, income, job, cash available for down payment, among other things. It's short and to the point; and we keep the paperwork to a minimum.
It is vital to sit down and talk with us, even though you are free to also try the helpful mortgage calculator tools on this site. That way, we will help you get your pre-qualification letter. Next, we can study your mortgage program options to be sure you have selected the best one. 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.