When to Talk to a Mortgage Pro About Pre-Qualifying
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It is important to visit with a mortgage loan pro first, even if you haven't decided what type of home you hope to find. What for? When you do not yet know how much home you want to qualify for, how can we help?
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and the loan amount you can qualify for. During the process, we calculate your borrowing power - analyzing your job, available money for down payment, debt, income, and other areas. It's quick and to the point; We take pride in keeping the paperwork to a minimum.
Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which documents the fact that we are helping you to find the ideal mortgage loan program to meet your needs and that we are confident you will qualify for a loan for up to a certain amount.
Holding your pre-qualification letter, several advantages fall at your feet when you locate the house you want to put together an offer on. The first is that you can be sure the amount you can afford when putting together the offer.
Of greater importance to the home seller, your being pre-qualified is like your having entered their house with a suitcase full of cash to purchase their home! They will not need to wonder if they're wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller of the home won't worry if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't be something for them to fret over. You'll have the clout of a buyer ready to make the purchase on the spot!
We will help you with your pre-qualification
Our mortgage professionals can help you find out how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. We can do this by reviewing your income and debts, your work and residence circumstances, your funds available for down payment, required reserves, and some other things. We as for a minimum amount of paperwork, with a short, basic process.
While you are encouraged to benefit from our tools to calculate mortgage variables on this site, it's a good idea to sit down and talk with us. That way, we can help you get your pre-qualification letter. Then, we'll make sure we have the ideal mortgage program for you. 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!