Why Pre-Qualification is Important
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It's valuable to consult with your mortgage loan professional early — even before you've started researching neighborhoods. Why? It may be hard to fathom the way we could help even before you start to talk about prices and negotiations.
When we pre-qualify you, we help you find out how much of a monthly payment you can afford, and the loan amount you will qualify for. During the process, we determine your borrowing power - reviewing your earning status, available money for down payment, existing debt, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.
We award you a Pre-Qualification Letter once you qualify, that says that we are confident you'll qualify for up to a predetermined amount of mortgage dollars.
Power in the Pre-Qual
Holding your pre-qualification letter, a number of advantages fall at your feet at the point you locate the house you want to put together an offer for. First, it lets you know how much you are able to offer.
Even more important to the seller of the house, your pre-qualification gives them certainty - as if you had entered their house with a suitcase of cash to make the offer! They will not need to wonder if they are wasting their time if you do not have the ability to qualify for a big enough mortgage. The seller of the home won't worry if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount won't cause them concern. You'll have the sway of a buyer ready to make the purchase on the spot!
We help with your pre-qualification
We can help determine how much of a mortgage you can afford, and how much money you can borrow, by walking you through the pre-qualification process. This process outlines your current financial situation - your debts, income, career, down payment money, among other things. We will require a minimum amount of paperwork, with a short, basic process.
One on one
While you are encouraged to use our mortgage calculators on our website, it will be essential to sit down and talk with one of our mortgage professional team members. For one thing, you will want a Pre-Qualification Letter! For another thing, we might be able to find a different mortgage loan option that better fits your needs. Contact us at 314-835-1195 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 314-835-1195. It's our job to answer pre-qualification questions, so we're happy to help!