Why Pre-Qualification is Important
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It is important to visit with a mortgage loan pro early, even if you haven't decided what sort of house to search for. What for? When you do not know yet how much home you need to qualify for, what could we help you with?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you determine the amount in monthly mortgage payments you can fit in your budget, and how much we of a loan you can qualify for. We can do this by reviewing your income and debts, your work and housing situations, the funds available for a down payment, required reserves, and other financial considerations. It's a quick, thorough process with minimal risks for papercuts.
Once you are determined to be eligible, we will prove our confidence in your potential to qualify for a loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
When you locate the house that meets your needs, and you want to make an offer, being pre-qualified for a mortgage loan will do a number of things. First of all, you have some general numbers in mind, as the amount you will be able to borrow.
Your pre-qualification can also make your offer more attractive to the seller, like you were bringing them a suitcase of cash! They need not worry that that they have been wasting their time if you don't have the ability to qualify for a big enough mortgage. 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 the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We help with your pre-qualification
We will help you calculate how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by walking you through the pre-qualification process. This process outlines your financial situation - your debts, income, employment, down payment money, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you can use our mortgage calculators on our website, it is a good idea to meet with one of our mortgage professional team members. That way, we'll help you get your pre-qualification letter. Then, we will make sure we have the right mortgage loan program for you. We're eager to hear from you: 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!