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It is important to see a mortgage loan pro first, even if you haven't decided the kind of house you hope to find. What for? When you don't know yet how much home you need 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 afford, and how much we of a loan you can qualify for. The process outlines your financial situation - your debts, income, employment, and cash available for down payment, among other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
When you are determined to be eligible, we document our confidence in your ability to qualify for a loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
Armed with your pre-qualification letter, some advantages are yours at the point you find the house you want to put together an offer on. The first is that you'll know what you can afford when determining the offer.
More important to the current home owner, your being pre-qualified is like your having entered their front door with a bag full of cash to make the deal! They will not need to worry that that they have been wasting their time if you will not have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.
We can help you pre-qualify
When we pre-qualify you, we help you find out the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. This process outlines your current financial situation - your debts, income, career, cash available for down payment, among other things. It's short and basic; and we take pride in keeping the paperwork to a minimum.
One on one
It's vital to sit down and meet with us, even though you are welcome to also use the helpful mortgage calculator tools on this site. For one thing, you will need a Pre-Qualification Letter! Then, we'll make sure we have the best mortgage program for your situation. Let us get you started: Call us at 714-970-9700.
Have questions about pre-qualifying? Call us at 714-970-9700. American Commerce Mortgage answers pre-qualifying questions every day.