The Importance of Pre-Qualification

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Even if you haven't so much as researched homes to view yet, it can be important to contact your mortgage pro first. What for? It might be difficult to fathom the ways we could help even before you begin to calculate your offer.

Pre-Qualify

When we pre-qualify you, we help you figure out the amount in monthly payments you can fit in your budget, and how much we of a loan you can qualify for. This process takes you through your current financial situation - your debts, income, career, and cash available for down payment, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.

After you qualify, will give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are helping you to find the ideal mortgage loan program to fit your situation and that we are confident you'll qualify for a mortgage for up to a specific amount.

Power in the Pre-Qual

Once you find the 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 of all, you have some concrete numbers in mind, as the amount you will be able to borrow. Even more important to the present owner, your pre-qualification gives them certainty - as if you'd entered their house with a bag of cash to make the offer! They won't need to be concerned they're wasting their time if you won't be able to be able to qualify for a high enough mortgage loan. The seller won't worry if he can count on you to qualify for your loan.Your qualifying for your needed loan amount won't cause them concern. You have the ability to back up your offer.

We help with your pre-qualification

We will help you calculate how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. We do this by analyzing your income and debts, your employment and residence circumstances, your available funds for down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.

One-on-One

While you are encouraged to use our tools to calculate mortgage variables on this website, it is essential to sit down and talk with one of our mortgage professional team members. We can begin working on your pre-qualification letter. Then, we will make sure we have the best mortgage program for you. Let us get you started: Call us at 253-848-1255.

Have questions about pre-qualifying? Call us at 253-848-1255. Absolute Mortgage, a Division of Finance of America Mortgage, LLC answers pre-qualifying questions every day.

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