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Even if you haven't narrowed down houses to visit yet, it can be valuable to visit with your mortgage professional first. Why? It might be hard to fathom the ways in which we can help even before you start to talk about prices and negotiations.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and the loan amount you can qualify for. The process takes you through your current financial situation - your debt, income, job, and down payment money, among other things. We will ask for a minimum amount of paperwork, with a short,basic process.
We will award you a Pre-Qualification Letter after you qualify, which documents that we are confident you will qualify for up to a specific amount of mortgage loan dollars.
After you find the house that meets your needs, and you want to make an offer, being pre-qualified for a mortgage loan will do several things. First, it lets you know how much you're able to offer.
Being pre-qualified also will make your offer look even better to the seller, like you were bringing them a suitcase of cash! They won't have to worry that that they are wasting their time if you can't have the ability to qualify for a big enough mortgage. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We can help you pre-qualify
When we pre-qualify you, we help you figure out the amount you can afford in mortgage payments you can afford, and the size of loan you will qualify for. In the process, we calculate your borrowing power - looking at your earning status, money available for down payment, existing debt, income, and other areas. It's short and basic; and we take pride in keeping the paperwork to a minimum.
While you are encouraged to try our tools to calculate mortgage variables on our site, it is essential to meet with us. We can walk you through your pre-qualification letter. For another thing, we may find a different mortgage loan option that fits your situation better. Let us get you started: Call us at (610) 889-7467.
Have questions about pre-qualifying? Call us at (610) 889-7467. We answer pre-qualification questions every day.