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It can be important to see a mortgage loan pro first, even before you have determined what sort of house you hope to find. Why? When you don't yet know how much house you need to qualify for, how can we help?
We can help you calculate how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. During this process, we calculate your borrowing power - looking at your job, money available for down payment, existing debt, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which says that we are partnering with you to find the best mortgage loan program to fit your situation and that we're confident you will qualify for a mortgage up to a specific amount.
Several beneifits open to you when you have found your dream house, and have pre-qualification. The first is that you'll know what you'll be able to afford when putting together your offer.
Even more important to the seller of the house, your pre-qualification gives them certainty - as if you'd come to their home with a big box of cash to back up the offer! They won't need to worry that that they are wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not cause them concern. You'll have the sway of a buyer ready to make the purchase right now!
We can help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the loan amount you will qualify for. This process walks you through your finances - your debts, income, job, cash available for down payment, among other things. It's quick and to the point; and we take pride in keeping the paperwork light.
Face to Face
While you can use our mortgage calculators on this website, it's a good idea to meet with one of our mortgage professional team members. For one thing, you will need a Pre-Qualification Letter! Next, we can consider your mortgage program options and be sure you are in the right one. Let us help you get started: Contact us at (203) 729-6681.
Have questions about pre-qualifying? Call us at (203) 729-6681. It's our job to answer pre-qualification questions, so we're happy to help!