Why Pre-Qualification is Important
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It is valuable to consult your mortgage loan professional early — even before you have started to consider neighborhoods. What for? What can we do for you before you have negotiated an amount and do not yet know how much you need to borrow?
We can help you see how much of a mortgage you can afford, and the amount of money you may be able to borrow by taking you through pre-qualifying. During this process, we determine your borrowing potential--looking at your job, available money for down payment, existing debt, income, and other areas. It is short and to the point; We keep the paperwork to a minimum.
After you qualify, will give you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which states that we are partnering with you to find the right mortgage loan to fit your situation and that we are confident you will qualify for a mortgage loan up to a specific amount.
With your pre-qualification letter, several advantages are yours when you locate the home you want to place an offer on. First, it lets you know how much you can offer. Even more important to the seller, your pre-qualification status gives them confidence--as if you had come into their house with a big box of cash to back up the offer! They will not have to be concerned that they are wasting their time if you cannot qualify for a big enough mortgage. The seller of the home will not wonder if he or she can count on you to qualify for your loan. Your qualification for the necessary mortgage loan amount will not be something for them to fret over. You will have the clout of a buyer ready to make the purchase right now!
We help with your pre-qualification
When we pre-qualify you, we help you find out the amount you can afford in monthly payments you can fit in your budget and the size of loan you can qualify for. In the process, we look at your borrowing potential, looking at your earning status, money available for down payment, debts, income, and other circumstances. It is short and basic; and we keep the paperwork light.
One on one
While you are able to use our tools to calculate mortgage variables on this website, it is essential to meet with us. This way we will be able to help you get your pre-qualification letter. Then, we will make sure we have the ideal mortgage loan program for you. Let us get you started: Call us at 330-492-7757.
Have questions about pre-qualifying? Call us at 330-492-7757. It's our job to answer pre-qualification questions, so we are happy to help!