When to Speak to Your Mortgage Pro About Pre-Qualification
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It's important to consult with your mortgage loan professional early — even before you have started to consider neighborhoods. What for? It might be hard to understand the ways in which we could help even before you begin to calculate your offer.
Our mortgage professionals will help you find out how much of a loan you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. We can do this by considering your debts and income, your work and housing circumstances, the available funds for a down payment, required reserves, and some other things. It's quick and to the point; We keep the paperwork to a minimum.
Once you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which documents the fact that we are helping you to find the right loan program to fit your financial needs and that we're confident you'll qualify for a mortgage for a specific amount.
Power in the Pre-Qual
Several beneifits open to you after you have found your dream house, and have achieved pre-qualification power. First, you have some concrete numbers in mind, as the total you will qualify for on your loan.
Even more important to the seller of the house, your pre-qualification status gives them confidence - as if you had entered their house with a big box of cash to back up the offer! They need not worry that that they are wasting their time if you do not be able to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to worry about. They have a virtual guarantee that they can trust your buying power.
We will help you with your pre-qualification
We will help determine how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through pre-qualifying. This process takes you through your finances - your debt, income, job, cash available for down payment, among other things. We will ask for a minimum amount of paperwork, with a short, basic process.
One on one
While you can try our mortgage calculators on this site, it will be essential to sit down and talk with one of our mortgage professional team members. For one thing, you will need a Pre-Qualification Letter! Then, we'll make sure we have selected the ideal mortgage loan program for your situation. We're eager to hear from you: contact 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!