When to Speak to Your Mortgage Professional About Pre-Qualification
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It is valuable to visit with a mortgage loan pro early, even before you have decided what sort of home you hope to find. What for? Maybe it is hard to understand how we could help even before you begin to calculate your offer.
We Can Help You Pre-Qualify
Our mortgage professionals can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. This process outlines your finances - your debt, income, employment, and down payment money, among other things. It's a short, thorough process with minimal risks for papercuts.
Once you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which states that we are helping you to find the ideal loan program to meet your needs and that we are confident you'll qualify for a mortgage up to a certain amount.
Holding your pre-qualification letter, several advantages fall at your feet when you find the house you want to make an offer for. The first is that you'll be sure what you will be able to afford when putting together your offer.
Your pre-qualification also will make your offer look even better to the seller, like you were bringing them a suitcase full of cash! They need not wonder if that they have been wasting their time if you can't have the ability to qualify for a big enough mortgage. 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 won't cause them concern. You have the ability to back up your offer.
We will help you pre-qualify
We will help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. During the process, we determine your borrowing power - reviewing your employment, money available for down payment, existing debt, income, and other areas. We will require a minimum amount of paperwork, with a quick process.
While you are encouraged to use our mortgage calculators on our site, it is a good idea to meet with us. For one thing, you will want a Pre-Qualification Letter! Next, we can consider your mortgage options to make sure you are in the best one. We are eager to hear from you: call us at 314-835-1195.
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!