Why Pre-Qualification is Important
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It's helpful to visit with a mortgage professional first, even before you have decided the sort of home you hope to find. Why? It might be hard to understand the ways in which we could help even before you start to negotiate.
Our mortgage professionals can help you find out how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. In this process, we look at your borrowing power - reviewing your job, available money for down payment, existing debt, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.
Once you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that says that we are working with you to find the right loan program to meet your situation and that we are confident you will qualify for a mortgage for a specific amount.
When you locate a house that meets your needs, and you want to put together an offer, being pre-qualified for a mortgage loan will do several things. First, it helps you know the amount that you're able to offer.
Of greater importance to the home seller, your pre-qualification is like your having entered their house with a suitcase full of money ready to purchase their home! They need not wonder if that they have been wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller of the home won't worry if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't be something for them to fret over. You'll have the clout of a buyer ready to make the deal right now!
We will help you pre-qualify
We will help you see how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. During this process, we calculate your borrowing power - reviewing your employment, available money for down payment, debt, income, and other areas. We require a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you are encouraged to try our tools to calculate mortgage variables on our website, it's essential to sit down and talk with one of our mortgage professional team members. For one thing, you will need a Pre-Qualification Letter! For another thing, we might find a different mortgage choice that fits your situation better. We are eager to meet with you: contact us at 253-848-1255.
Have questions about pre-qualifying? Call us at 253-848-1255. We answer pre-qualification questions every day.