Why it's Important to Pre-Qualify
Shopping for a mortgage loan? We'll be glad to answer your questions about your mortgage needs! Call us at (707) 252-2700. Ready to begin? Apply Online Now.
It is important to consult with your mortgage professional as soon as possible — even before you've started to consider neighborhoods. What for? What can we do for you if you haven't negotiated an amount, and do not yet know how much you want to borrow?
We can help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. This process walks you through your financial situation - your debts, income, job, and down payment money, among other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that says that we are working with you to find the ideal loan program to meet your situation and that we're confident you'll qualify for a loan for a certain amount.
Once you find a house that is ideal for you, and you want to make an offer, being pre-qualified for a mortgage will do a couple of things. The first is that you can know the amount you'll be able to afford when calculating your offer.
Being pre-qualified will also make your offer look even better to the home seller, as if you were bringing them a suitcase full of cash! They need not worry that they are wasting their time if you do not be able to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary loan amount will not be something for them to fret over. They have a virtual guarantee that they can trust your ability to back up your offer.
We help with your pre-qualification
We can help you see how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by taking you through pre-qualifying. This process walks you through your current financial situation - your debt, income, job, down payment money, among other things. It's short and basic; and we take pride in keeping the paperwork to a minimum.
One on one
You can always use the mortgage calculators here on this website to get an idea of how much mortgage you'll be able to afford - but it's also important to talk with us. That way, we'll be able to help you get your pre-qualification letter. For another thing, we could locate a different mortgage program that fits your goals better. Let us help you get started: Contact 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.