Why it's Important to Pre-Qualify
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Even if you've not so much as researched houses to view yet, it can be important to visit with your mortgage professional early. What for? How can we help if you haven't negotiated an amount, and do not yet know how much you want to borrow?
When we pre-qualify you, we help you find out the amount in mortgage payments you can afford, and how much we of a loan you will qualify for. We accomplish this by analyzing your income and debts, your work and residence situations, your available funds for a down payment, required reserves, and some other things. We will require a minimum amount of paperwork, with a quick process.
We will give you a Pre-Qualification Letter once you qualify, which states that we are confident you can qualify for a predetermined amount of mortgage loan dollars.
Once you find the house that is best for you, and you decide to make an offer, being pre-qualified for a loan will do several things. First of all, you have some definite numbers in mind, as the total you will be able to borrow.
Even more important to the seller of the home, your pre-qualification status gives them certainty - as if you had come to their home with a suitcase of cash to make the offer! They need not be concerned that they have been wasting their time if you can't have the ability to qualify for a high enough mortgage loan. The seller won't worry if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to fret over. They have a virtual guarantee to trust your ability to back up your offer.
We help with your pre-qualification
Our mortgage professionals can help you find out how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. In this process, we look at your ability to borrow - reviewing your employment, money available for down payment, existing debt, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
One on one
It's important for you to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage calculators on this website. We can begin working on your pre-qualification letter. For another thing, we may locate a different mortgage program that is a better fit for you. Contact us at (707) 252-2700 to get started.
Have questions about pre-qualifying? Call us at (707) 252-2700. We answer pre-qualification questions every day.