The Importance of Pre-Qualifying
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It is helpful to consult with your mortgage loan professional early — even before you have started narrowing down neighborhoods. Why? What can we do for you if you haven't negotiated a price, and don't yet know how much you want to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you decide the amount in mortgage payments you can fit in your budget, and how much we of a loan you will qualify for. We do this by considering your debts and income, your employment and housing situations, the funds available for down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which states that we are helping you to find the best mortgage loan to meet your financial needs and that we are confident you will qualify for a mortgage up to a certain amount.
Power in the Pre-Qual
Once you locate the house that is right for you, and you decide to make an offer, being pre-qualified for a mortgage will do several things. The first is that you can be sure the amount you will be able to afford when calculating the offer.
More important to the existing home owner, your pre-qualification is like your having walked into their house with a suitcase full of cash ready to make the deal! They won't need to worry that they are wasting their time if you will not 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'll need.Your qualifying for your needed mortgage loan amount will not cause them concern. You have the capability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you decide the amount you can afford in monthly payments you can fit in your budget, and the loan amount you can qualify for. We achieve this by considering your income and debts, your employment and housing circumstances, your funds available for down payment, required reserves, and other considerations. It's quick and basic; and we keep the paperwork to a minimum.
One on one
While you are encouraged to benefit from our mortgage calculators on our website, it will be a good idea to sit down and talk with one of our mortgage professional team members. For one thing, you'll need a Pre-Qualification Letter! Then, we will make sure we have the ideal mortgage program for your situation. Let us help you get started: Call us at 714-970-9700.
Have questions about pre-qualifying? Call us at 714-970-9700. It's our job to answer pre-qualification questions, so we're happy to help!