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It is helpful to see a mortgage professional first, even if you haven't decided what sort of house you hope to find. What for? How can we help if you have not negotiated a price, and do not know yet how much you need to borrow?
Our mortgage professionals can help you determine the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. The process outlines your finances - your debt, income, employment, and down payment money, among other things. It's quick and basic; We take pride in keeping the paperwork to a minimum.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that says that we are helping you to find the ideal mortgage loan program to meet your situation and that we are confident you'll qualify for a mortgage loan for a certain amount.
A number of beneifits open to you after you find your next house, and have pre-qualification. The first is that you can be sure what you can afford when calculating your offer.
Even more important to the seller, your pre-qualification letter gives them certainty - as if you had entered their home with a bag of cash to back up the offer! They will not 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 wonder if he can trust you to qualify for your mortgage in the amount you'll need.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 help with your pre-qualification
We will help determine how much of a mortgage loan you can afford, and how much money you can borrow, by taking you through pre-qualifying. The process outlines your current financial situation - your debts, income, job, down payment money, among other things. We require a minimum amount of paperwork, with a quick process.
Face to Face
You can certainly use the mortgage calculators available on this site to get an idea of how much mortgage you'll be able to afford - but it's also important to talk with us. We can begin getting your pre-qualification letter. For another thing, we could locate a different mortgage option that is a better fit for you. We are eager to meet with you: call us at (610) 889-7467.
Have questions about pre-qualifying? Call us at (610) 889-7467. Howard Financial answers pre-qualifying questions every day.