The Importance of Pre-Qualifying
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It's helpful to consult with your mortgage loan professional as soon as possible — even before you've begun narrowing down neighborhoods. Why? How can we help before you have negotiated a price, and do not know yet the amount you need to borrow?
We can help you find out the loan amount you can qualify for and the mortgage payment amount you can afford by helping you pre-qualify. In the process, we look at your borrowing power - analyzing your employment, available money for down payment, debts, income, and other areas. It is a quick, thorough process with minimal risks for papercuts.
When you are determined to be eligible, we document our confidence in your potential to qualify for a loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Armed with your pre-qualification letter, several advantages are yours when you locate the home you want to make an offer for. First, it helps you know how much you can offer.
Even more important to the seller of the home, your pre-qualification gives them confidence - as if you had come to their house with a suitcase of cash to back up the offer! They need not be concerned they are wasting their time if you do not be able 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 will need.Your qualifying for the necessary loan amount won't be something for them to worry about. You can have the influence of a buyer ready to make the deal on the spot!
We will help you with your pre-qualification
We will help you calculate how much of a mortgage loan you can afford, and how much money you can borrow, by taking you through the pre-qualification process. The process outlines your finances - your debts, income, employment, down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.
You can certainly use the calculators on our site to get an idea of how much mortgage you can afford - but it's also important to meet with one of our mortgage professionals. We can begin working on your pre-qualification letter. Then, we can make sure we have chosen the best mortgage program for you. Let us get you started: Call us at 714-970-9700.
Have questions about pre-qualifying? Call us at 714-970-9700. We answer pre-qualification questions every day.