When to Talk to a Mortgage Professional
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It's helpful to visit with a mortgage loan pro early, even if you haven't decided what sort of house to search for. Why? When you do not know yet how much house you want to qualify for, how could we help?
We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. The process outlines your finances - your debt, income, career, and cash available for down payment, among other things. It's short and to the point; We keep the paperwork light.
We'll give you a Pre-Qualification Letter after you qualify, that documents that we're confident you'll qualify for a predetermined amount of mortgage dollars.
When you locate a house that is ideal for you, and you want to make an offer, being pre-qualified for a mortgage will do several things. First of all, you have some concrete numbers in mind, as the total you will qualify for with your mortgage.
Of greater importance to the current home owner, your pre-qualification is like your having entered their front door with a bag full of money to purchase the house! They need not be concerned that they have been wasting their time if you will not be able to qualify for a big enough mortgage loan. The seller won't be concerned that he can't trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount will not be something for them to fret over. You have the ability to back your offer up.
We can help you pre-qualify
We can help you see how much of a mortgage loan you can afford, and how much money you will be able to borrow, by taking you through pre-qualifying. We accomplish this by reviewing your income and debts, your work and housing situations, the available funds for down payment, required reserves, and some other things. It's short and basic; and we keep the paperwork light.
Face to Face
You can always use the mortgage calculators available on our site to calculate the size mortgage you can afford - but it's also valuable to meet with one of our mortgage professionals. For one thing, you will want a Pre-Qualification Letter! Next, we can review your mortgage options to be sure you are in the best one. Let us get you started: Contact us at 314-835-1195.
Have questions about pre-qualifying? Call us at 314-835-1195. Alternative Mortgage Solutions, Inc. answers pre-qualifying questions every day.