Why it's Important to Pre-Qualify
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It's important to bring in your mortgage professional as soon as possible — even before you've started to consider neighborhoods. Why? How can we help you if you have not negotiated an amount, and do not know yet how much you need to borrow?
When we pre-qualify you, we help you determine the amount in mortgage payments you can afford, and the size of loan you can qualify for. The process outlines your financial situation - your debt, income, career, and cash available for down payment, among other things. It is a quick, thorough process with minimal risks for papercuts.
We will give you a Pre-Qualification Letter after you qualify, that states that we're confident you can qualify for up to a specific amount of mortgage dollars.
Power in the Pre-Qual
Holding your pre-qualification letter, some advantages are yours at the point you find the house you want to make an offer on. The first is that you can know what you'll be able to afford when calculating your offer.
More important to the current home owner, your being pre-qualified is like your having walked into their house with a suitcase full of cash to make the deal! They won't have to be concerned that they are wasting their time if you can't be able to qualify for a high enough mortgage. The seller of the home won't worry if he can trust you to qualify for your loan.Your qualifying for your needed loan amount won't cause them concern. You'll have the sway of a buyer ready to make the deal right now!
We help with your pre-qualification
We will help determine how much of a mortgage you can afford, and the amount of money you will be able to borrow, by walking you through pre-qualifying. We do this by considering your income and debts, your employment and residence situations, the funds available for down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, with a short, basic process.
While you are encouraged to use our mortgage calculators on our website, it's essential to meet with one of our mortgage professional team members. For one thing, you will need a Pre-Qualification Letter! Then, we'll make sure we have the right mortgage program for you. Let us help you get started: Contact us at (334) 285-8850.
Have questions about pre-qualifying? Call us at (334) 285-8850. It's our job to answer pre-qualification questions, so we're happy to help!