The Importance of Pre-Qualifying
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Even if you have not so much as narrowed down homes to visit yet, it's advantageous to see your mortgage pro early. Why? What can we do for you before you have negotiated an amount, and do not yet know the amount you need to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you decide the amount in mortgage payments you can afford, and how much we of a loan you will qualify for. In the process, we determine your borrowing capacity - analyzing your employment, available money for down payment, debts, income, and other areas. We ask for a minimum amount of paperwork, with a short,basic process.
At the point you are determined to be eligible, we will prove our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
When you locate the house that is ideal for you, and you want to make an offer, being pre-qualified for a mortgage loan will do several things. First, it helps you know how much you can offer. Even more important to the present owner, your pre-qualification status gives them certainty - as if you'd arrived at their home with a suitcase of cash to back up the offer! They will not need to wonder if that they have been wasting their time if you do not be able to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount will not be something for them to worry about. You have the ability to back up your offer.
We will help you pre-qualify
We can help determine how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through pre-qualifying. During this process, we explore your borrowing potential - analyzing your job, money available for down payment, existing debt, income, and other areas. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
One on one
You can always use the calculators on our website to calculate how much mortgage you'll be able to afford - but it's also valuable to meet with us. We can work toward your pre-qualification letter. Next, we can review your mortgage program choices to be sure you have chosen the best one. Let us help you get started: Contact us at 516-431-2009.