The Importance of Pre-Qualification
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It is important to visit with a mortgage loan pro first, even before you have decided the kind of home you hope to find. Why? What can we do for you before you have negotiated an amount, and don't know yet how much you want to borrow?
We can help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. The process leads you through your finances - your debts, income, job, and down payment money, among other things. We will require a minimum amount of paperwork, with a short,basic process.
Once you are determined to be eligible, we prove our confidence in your potential to qualify for a loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Various beneifits open to you when you've found your new house, and have pre-qualification. First of all, you have some general numbers in mind, as the total you will qualify for on your mortgage.
Being pre-qualified also will make your offer look even better to the home seller, as if you were bringing them a suitcase full of cash! They need not wonder if that they're wasting their time if you don't be able to qualify for a big enough mortgage. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
Our mortgage professionals can help you calculate how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We will do this by reviewing your income and debts, your employment and residence situations, your available funds for down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can certainly use the mortgage calculators here on this website to calculate how much mortgage you'll be able to afford - but it's also essential to talk with one of our mortgage professionals. We can begin working on your pre-qualification letter. Then, we'll make sure we have the best mortgage loan program for your situation. Contact us at (610) 889-7467 to get started.
Have questions about pre-qualifying? Call us at (610) 889-7467. It's our job to answer pre-qualification questions, so we're happy to help!