Why Pre-Qualification is Important
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Even if you have not picked out houses to visit yet, it can be valuable to see your mortgage professional early. What for? How can we help before you have made an offer, and do not yet know how much you want to borrow?
We Can Help You Pre-Qualify
We will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. During this process, we explore your ability to borrow - reviewing your job, money available for down payment, debts, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
After you qualify, will present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which says that we are helping you to find the ideal mortgage loan program to meet your financial needs and that we're confident you will qualify for a mortgage up to a specific amount.
With your pre-qualification letter, some advantages fall at your feet at the point you find the house you want to make an offer on. First of all, you have some definite numbers in mind, as the amount you will be able to borrow.
Having pre-qualification will also make your offer look even better to the seller, as if you were bringing them a big box of cash! They will not have to be concerned 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 wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount won't be something for them to lose sleep over. You have the clout of a buyer ready to make the deal on the spot!
We help with your pre-qualification
We can help you determine the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. We will do this by considering your income and debts, your work and housing circumstances, your funds available for a down payment, required reserves, and other considerations. It's quick and basic; and we take pride in keeping the paperwork to a minimum.
One on one
You can certainly use the mortgage calculators on this website to calculate the size mortgage you will be able to afford - but it's also important to talk with us. For one thing, you will need a Pre-Qualification Letter! Next, we can study your mortgage loan options to be sure you have selected the best one. We are eager to meet with you: contact us at 310-379-5997.
Have questions about pre-qualifying? Call us at 310-379-5997. Real Property Finance answers pre-qualifying questions every day.
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