Why Pre-Qualification is Important
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It is important to see a mortgage professional first, even if you haven't settled on what sort of house you hope to find. What for? What can we do for you before you have negotiated an amount, and do not yet know how much you need to borrow?
We will help you determine the loan amount you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. In the process, we calculate your borrowing potential - reviewing your job, available money for down payment, debts, income, and other circumstances. It's a short, thorough process with minimal risks for papercuts.
At the point you are considered eligible, we document our confidence in your potential to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Holding your pre-qualification letter, several advantages fall at your feet once you locate the house you want to put together an offer on. First, it lets you know how much you are able to offer.
More important to the home seller, your being pre-qualified is like your having walked into their house with a suitcase full of money to make the deal! They will not have to worry that that they are wasting their time if you don't have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount will not cause them concern. You have the ability to back up your offer.
We help with your pre-qualification
Our mortgage professionals will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We do this by considering your income and debts, your employment and housing circumstances, your funds available for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
It is important to sit down and meet with us, even though you are free to also try the helpful mortgage loan calculators on this website. That way, we will help you get your pre-qualification letter. Then, we will make sure we have the ideal mortgage program for you. We're waiting to meet with you: call us at 818-889-7300.
Have questions about pre-qualifying? Call us at 818-889-7300. It's our job to answer pre-qualification questions, so we're happy to help!