Why Pre-Qualification is Important
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It's helpful to see a mortgage loan pro first, even before you have determined what sort of house you hope to find. What for? How can we help you before you have made an offer, and do not yet know how much you want to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out how much of a monthly payment you can afford, and the loan amount you will qualify for. In the process, we look at your borrowing potential - looking at your earning status, available money for down payment, debts, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.
At the point you are determined to be eligible, we prove our confidence in your ability to qualify for a loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Holding your pre-qualification letter, several advantages fall at your feet once you find the home you want to make an offer for. First, it helps you know how much you are able to offer.
Even more important to the seller, your pre-qualification status gives them certainty - as if you'd entered their home with a big box of cash to make the offer! They will not need to be concerned they are wasting their time if you do not be able to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not be something for them to fret over. You will have the influence of a buyer ready to make the deal on the spot!
We help with your pre-qualification
We will help you calculate the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. We will do this by reviewing your debts and income, your work and housing situations, your funds available for down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.
While you are able to benefit from our mortgage calculators on our site, it will be essential to sit down and talk with us. For one thing, you will need a Pre-Qualification Letter! Next, we can consider your loan options and be sure you are in the right one. Let us help you get started: Call us at (707) 252-2700.
Have questions about pre-qualifying? Call us at (707) 252-2700. Custom Lending Group answers pre-qualifying questions every day.