When to Speak to Your Mortgage Professional About Pre-Qualifying
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It's valuable to consult with your mortgage loan professional as soon as possible — even before you've started to research neighborhoods. What for? Maybe it's hard to fathom how we can help even before you begin to calculate your offer.
We will help determine how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through pre-qualifying. This process outlines your finances - your debts, income, employment, and down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.
We will award you a Pre-Qualification Letter when you qualify, which says that we are confident you'll qualify for a certain amount of mortgage loan dollars.
Holding your pre-qualification letter, several advantages are yours once you find the home you want to make an offer on. The first is that you can know the amount you will be able to afford when determining the offer.
More important to the existing home owner, your being pre-qualified is like your having entered their house with a suitcase full of money to purchase their home! They won't need to be concerned that they are wasting their time if you can't have the ability to qualify for a high enough mortgage. The seller 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 mortgage loan amount won't cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly payment you can afford, and how much we of a loan you can qualify for. In the process, we calculate your borrowing power - analyzing your job, available money for down payment, debt, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
Face to Face
It is vital to sit down and meet with us, even though you are free to also utilize the helpful mortgage calculator tools on this website. For one thing, you will want a Pre-Qualification Letter! Then, we will make sure we have the right mortgage loan program for you. We're eager to meet with you: contact us at (443) 619-7900.
Have questions about pre-qualifying? Call us at (443) 619-7900. We answer pre-qualification questions every day.