The Importance of Pre-Qualifying
It's important to see a mortgage loan pro early, even if you haven't settled on what type of home you hope to find. What for? If you don't yet know how much house you need to qualify for, what can we do for you?
We will help determine how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. During the process, we explore your borrowing power - analyzing your earning status, money available for down payment, existing debt, income, and other circumstances. It's short and basic; We take pride in keeping the paperwork to a minimum.
We give you a Pre-Qualification Letter if you qualify, which states that we are confident you will qualify for a certain amount of mortgage dollars.
With your pre-qualification letter, some advantages are yours at the point you find the home you want to make an offer for. First, you have some definite numbers in mind, as the total you will qualify for with your mortgage.
Even more important to the seller, your pre-qualification status gives them confidence - as if you had come into their house with a bag of cash to back up the offer! They need not worry that that they're wasting their time if you do not be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't trust 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 to trust your buying power.
We help with your pre-qualification
When we pre-qualify you, we help you decide the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you can qualify for. The process outlines your finances - your debt, income, employment, cash available for down payment, among other things. It is a short, thorough process with minimal risks for papercuts.
One on one
You can always use the calculators here on our website to calculate how much mortgage you'll be able to afford - but it's also essential to meet with us. We can walk you through your pre-qualification letter. Then, we'll make sure we have the ideal mortgage program for your situation. Let us help you get started: Call us at (585) 263-4353.
Have questions about pre-qualifying? Call us at (585) 263-4353. It's our job to answer pre-qualification questions, so we're happy to help!