The Importance of Pre-Qualifying
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It's helpful to bring in your mortgage loan professional as soon as possible — even before you have started to research neighborhoods. What for? How can we help you before you have negotiated an amount, and don't yet know the amount you need to borrow?
We Will Help You Pre-Qualify
We will help determine how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through the pre-qualification process. The process takes you through your finances - your debts, income, employment, and cash available for down payment, among other things. It's a quick, thorough process with minimal risks for papercuts.
After you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which documents the fact that we are working with you to find the best mortgage to meet your financial needs and that we are confident you will qualify for a mortgage for up to a specific amount.
With your pre-qualification letter, a number of advantages fall at your feet when you find the home you want to make an offer on. First of all, you have some definite numbers in mind, as the total you will qualify for on your mortgage loan.
Even more important to the seller of the home, your pre-qualification letter gives them confidence - as if you had arrived at their home with a suitcase of cash to back up the offer! They will not need to be concerned that they are wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller won't worry if he can count on you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to fret over. You can have the influence of a buyer ready to make the deal on the spot!
We will help you pre-qualify
When we pre-qualify you, we help you decide the amount you can afford in mortgage payments you can fit in your budget, and the loan amount you can qualify for. During the process, we calculate your capacity to borrow - analyzing your employment, available money for down payment, debt, income, and other circumstances. It is a short, thorough process with minimal risks for papercuts.
You can always use the mortgage calculators on this website to calculate the size mortgage you'll be able to afford - but it's also valuable to meet with us. For one thing, you'll want a Pre-Qualification Letter! Next, we can consider your mortgage program choices and make sure you have found the right one. We're eager to hear from you: contact us at 310-379-5997.
Have questions about pre-qualifying? Call us at 310-379-5997. We answer pre-qualification questions every day.