Why Pre-Qualification is Important
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Even if you have not picked out homes to visit yet, it's important to contact your mortgage pro first. Why? It may be hard to understand the ways in which we can help even before you begin to calculate your offer.
We Can Help You Pre-Qualify
Our mortgage professionals will help you calculate the loan amount you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. During this process, we determine your borrowing potential - analyzing your employment, available money for down payment, existing debt, income, and other areas. It's short and to the point; We keep the paperwork light.
At the point you are considered eligible, we document our confidence in your ability to qualify for a mortgage by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
A number of advantages open to you when you've found your new house, and have pre-qualification. First, you have some concrete numbers in mind, as the total you will be able to borrow.
Even more important to the present owner, your pre-qualification letter gives them confidence - as if you'd arrived at their home with a big box of cash to make the offer! They will not need to be concerned that they're wasting their time if you won't be able to have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your ability to back up your offer.
We help with your pre-qualification
We will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. We will do this by analyzing your debts and income, your employment and housing circumstances, 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.
One on one
You can certainly use the calculators available on this site to calculate how much mortgage you will be able to afford - but it's also important to talk with us. For one thing, you'll want a Pre-Qualification Letter! For another thing, we might find a different mortgage loan option that is a better fit for you. 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!