The Importance of Pre-Qualification
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It's valuable to see a mortgage professional early, even before you've determined the sort of home to look for. Why? Maybe it is difficult to understand the ways we could help even before you start to negotiate.
Our mortgage professionals can help you determine the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. The process takes you through your current financial situation - your debt, income, employment, and cash available for down payment, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which says that we are helping you to find the ideal mortgage loan to fit your financial needs and that we're confident you'll qualify for a mortgage loan for a certain amount.
Power in the Pre-Qual
Various advantages open to you when you've found your new house, and have pre-qualification. First, it lets you know the amount that you can offer.
Even more important to the seller, your pre-qualification gives them certainty - as if you'd arrived at their home with a big box of cash to make the offer! They will not need to be concerned they have been wasting their time if you do not have the ability to qualify for a big enough mortgage loan. The seller won't wonder if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.
We help with your pre-qualification
We will help you calculate how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through the pre-qualification process. In the process, we determine your borrowing potential - looking at your employment, available money for down payment, debts, income, and other areas. It's short and to the point; and we keep the paperwork light.
While you are encouraged to benefit from our tools to calculate mortgage variables on this website, it will be a good idea to meet with one of our mortgage professional team members. That way, we'll be able to help you get your pre-qualification letter. Next, we can study your loan choices and be sure you have found the best one. Contact us at (610) 889-7467 to get your pre-qualification process 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!