The Importance of Pre-Qualification

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Even if you've not so much as researched homes to view yet, it can be advantageous to visit with your mortgage pro early. What for? It may be hard to fathom the ways we could help even before you begin to talk about prices and negotiations.

Pre-Qualify

We will help you find out the loan amount you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We will achieve this by considering your debts and income, your employment and housing situations, your available funds for a down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.

When you are determined to be eligible, we will prove our confidence in your potential to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").

Power in the Pre-Qual

Armed with your pre-qualification letter, some advantages fall at your feet once you find the house you want to make an offer for. First, it lets you know how much you are able to offer. Even more important to the existing owner, your pre-qualification letter gives them certainty - as if you'd entered their house with a big box of cash to back up the offer! They need not be concerned that they are wasting their time if you don't be able to qualify for a big enough mortgage loan. The seller won't worry if he can count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your ability to back up your offer.

We will help you pre-qualify

When we pre-qualify you, we help you figure out the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. The process outlines your current financial situation - your debt, income, employment, down payment money, among other things. It's quick and basic; and we take pride in keeping the paperwork to a minimum.

Face to Face

While you can use our mortgage calculators on this website, it's a good idea to sit down and talk with us. We can walk you through your pre-qualification letter. Then, we can make sure we have chosen the ideal mortgage program for you. Contact us at 7072522700 to get started.

Have questions about pre-qualifying? Call us at 7072522700. Custom Lending Group answers pre-qualifying questions every day.