Why Pre-Qualification is Important
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It is helpful to see a mortgage professional first, even before you have decided the kind of home to search for. What for? Maybe it is hard to understand how we can help even before you begin to talk about prices and negotiations.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can fit in your budget, and the loan amount you will qualify for. The process outlines your finances - your debt, income, career, and cash available for down payment, among other things. It's a quick, thorough process with minimal risks for papercuts.
We award you a Pre-Qualification Letter after you qualify, which documents that we are confident you can qualify for up to a specific amount of mortgage loan dollars.
With your pre-qualification letter, some advantages are yours when you locate the house you want to put together an offer on. First of all, you have some general numbers in mind, as the amount you will qualify for with your loan.
Even more important to the seller, your pre-qualification gives them confidence - as if you'd entered their home with a big box of cash to back up the offer! They will not need to be concerned 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 can't count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We will help you pre-qualify
We can help you see how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. We can do this by reviewing your income and debts, your work and housing situations, the available funds for down payment, required reserves, and other financial considerations. It's quick and basic; and we take pride in keeping the paperwork light.
You can certainly use the calculators here on our website to calculate how much mortgage you will be able to afford - but it's also valuable to meet with one of our mortgage professionals. That way, we'll help you get your pre-qualification letter. Next, we can review your mortgage program choices and be sure you have found the right one. Let us get you started: Call us at 425-508-9988.
Have questions about pre-qualifying? Call us at 425-508-9988. We answer pre-qualification questions every day.
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