When to Speak to Your Mortgage Professional About Pre-Qualifying
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It is valuable to consult with your mortgage professional early — even before you have begun researching neighborhoods. What for? How can we help you if you have not negotiated a purchase amount, and don't yet know how much you need to borrow?
Our mortgage professionals can help you determine how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. We will accomplish this by considering your debts and income, your employment and housing circumstances, the funds available for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, with a short,basic process.
At the point you are determined to be eligible, we will prove our confidence in your capacity to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
With your pre-qualification letter, some advantages are yours at the point you locate the home you want to make an offer for. First, it helps you know the amount that you're able to offer.
Your pre-qualification also will make your offer more attractive to the home seller, as if you were bringing them a suitcase full of cash! They will not need to be concerned they have been wasting their time if you do not have the ability to qualify for a big enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the capability to back your offer up.
We can help you pre-qualify
We can help you see 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. The process outlines your finances - your debt, income, employment, cash available for down payment, among other things. It's short and basic; and we take pride in keeping the paperwork light.
It's important for you to sit down and talk with us, even though you are welcome to also try the helpful mortgage loan calculators on this website. We can work toward your pre-qualification letter. Then, we can make sure we have the best mortgage loan program for you. We are eager to meet with you: contact us at 425-508-9988.
Have questions about pre-qualifying? Call us at 425-508-9988. Financial Edge Mortgage Corp. answers pre-qualifying questions every day.
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