Why Pre-Qualification is Important
Shopping for a mortgage loan? We'll be glad to talk about our mortgage offerings! Give us a call at 516-431-2009. Want to get started? Apply Here.
Even if you haven't so much as narrowed down houses to view yet, it's valuable to see your mortgage professional early. What for? If you don't know yet how much home you want to qualify for, how could we help?
We will help you calculate the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. During this process, we calculate your borrowing power - reviewing your job, available money for down payment, debts, income, and other circumstances. We require a minimum amount of paperwork, and avoid a lengthy process.
When you are determined to be eligible, we will prove our confidence in your ability to qualify for a loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
When you locate a house that is ideal for you, and you decide to put together an offer, being pre-qualified for a mortgage loan will do a number of things. First, it lets you know the amount that you're able to offer.
Being pre-qualified also will make your offer more attractive to the home seller, as if you were bringing them a suitcase of cash! They won't need to be concerned they are wasting their time if you will 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 will need.Your qualifying for the necessary loan amount will not cause them concern. You will have the influence of a buyer ready to make the deal on the spot!
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 will qualify for. We can accomplish this by reviewing your debts and income, your employment and residence circumstances, your available funds for down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
While you are able to use our tools to calculate mortgage variables on this website, it's essential to sit down and talk with us. For one thing, you will need a Pre-Qualification Letter! Next, we can study your mortgage choices and make sure you have found the best one. We're eager to hear from you: call us at 516-431-2009.
Have questions about pre-qualifying? Call us at 516-431-2009. Riverside Funding Corp. answers pre-qualifying questions every day.