The Importance of Pre-Qualification

Even if you haven't researched houses to view yet, it's advantageous to contact your mortgage professional early. Why? When you don't yet know how much house you want to qualify for, what can we help you with?

Pre-Qualify

Our mortgage professionals can help you determine how much of a loan you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. In the process, we determine your ability to borrow - reviewing your employment, available money for down payment, debts, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.

When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which states that we are helping you to find the ideal loan program to fit your financial needs and that we are confident you'll qualify for a loan for up to a certain amount.

Buying Power

After you locate the house that is best for you, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. First of all, you have some definite numbers in mind, as the amount you will qualify for with your mortgage. Even more important to the seller of the house, your pre-qualification gives them certainty - as if you'd arrived at their home with a big box of cash to back up the offer! They won't have to be concerned they're wasting their time if you don't be able to qualify for a big enough mortgage. The seller won't worry if he can trust you to qualify for your loan.Your qualifying for the necessary loan amount won't cause them concern. You have the ability to back your offer up.

We can help you pre-qualify

We will help you find out the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. During the process, we calculate your borrowing power - looking at your employment, money available for down payment, debts, income, and other areas. It's short and basic; and we take pride in keeping the paperwork to a minimum.

One-on-One

It is important for you to sit down and meet with us, even though you are welcome to also try the helpful mortgage calculator tools on our website. We can walk you through your pre-qualification letter. Then, we can make sure we have selected the best mortgage program for you. Contact us at 866-300-1550 to get your pre-qualification process started.

Have questions about pre-qualifying? Call us at 866-300-1550. We answer pre-qualification questions every day.