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It is helpful to visit with a mortgage professional early, even if you haven't decided what type of house to search for. Why? What can we do for you before you have made your offer, and don't yet know how much you want to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in monthly payments you can afford, and the size of loan you will qualify for. We accomplish this by considering your income and debts, your employment and residence circumstances, the available funds for down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.
Once you are considered eligible, we document our confidence in your capacity to qualify for a loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Armed with your pre-qualification letter, a number of advantages are yours at the point you find the house you want to make an offer for. First, it lets you know the amount that you're able to offer.
Your pre-qualification can also make your offer more attractive to the seller, like you were bringing them a suitcase of cash! They need not worry that that they're wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. The process outlines your finances - your debt, income, job, cash available for down payment, among other things. It's short and basic; and we keep the paperwork to a minimum.
It is important to sit down and talk with us, even though you are free to also use the helpful mortgage calculators on our website. That way, we'll be able to help you get your pre-qualification letter. For another thing, we might locate a different mortgage loan option that better fits your needs. Contact us at 719-331-6278 to get started.
Have questions about pre-qualifying? Call us at 719-331-6278. We answer pre-qualification questions every day.