When to Speak to a Mortgage Professional About Pre-Qualification
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Even if you've not researched homes to visit yet, it's advantageous to visit with your mortgage pro early. Why? Maybe it is hard to fathom how we could help even before you begin to negotiate.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in monthly mortgage payments you can fit in your budget, and how much we of a loan you can qualify for. The process outlines your financial situation - your debt, income, job, and cash available for down payment, among other things. It is a quick, thorough process with minimal risks for papercuts.
When you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that states that we are helping you to find the best mortgage loan program to fit your financial needs and that we are confident you'll qualify for a mortgage up to a specific amount.
Armed with your pre-qualification letter, several advantages are yours when you locate the house you want to make an offer for. First of all, you have some concrete numbers in mind, as the total you can borrow.
Your pre-qualification also will make your offer look even better to the home seller, as if you were bringing them a big box of cash! They need not worry that that they're wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.
We can help you pre-qualify
We will help you calculate how much of a mortgage you can afford, and the amount of money you will be able to borrow, by walking you through the pre-qualification process. In this process, we explore your borrowing power - reviewing your job, available money for down payment, existing debt, income, and other circumstances. We as for a minimum amount of paperwork, and avoid a lengthy process.
It is vital to sit down and meet with us, even though you are welcome to also try the helpful mortgage calculators on this site. That way, we will help you get your pre-qualification letter. Then, we'll make sure we have found the right mortgage loan program for your situation. Contact us at (203) 729-6681 to get started.
Have questions about pre-qualifying? Call us at (203) 729-6681. Amity Mortgage LLC answers pre-qualifying questions every day.