Why Pre-Qualification is Important
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It's important to see a mortgage loan pro first, even before you've determined what sort of home you hope to find. What for? If you do not yet know how much home you want to qualify for, what could we do for you?
We Will Help You Pre-Qualify
We will help determine how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. This process takes you through your financial situation - your debt, income, employment, and down payment money, among other things. We will require a minimum amount of paperwork, with a quick process.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that states that we are helping you to find the right mortgage loan to fit your financial needs and that we're confident you'll qualify for a mortgage for up to a specific amount.
After you find a house that is best for you, and you want to make an offer, being pre-qualified for a mortgage will do a couple of things. First of all, you have some definite numbers in mind, as the total you will qualify for with your mortgage loan.
Even more important to the present owner, your pre-qualification gives them certainty - as if you'd come into their house with a suitcase of cash to make the offer! They need not be concerned that they're wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't cause them concern. You have the ability to back up your offer.
We can help you pre-qualify
We can help determine how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. The process outlines your finances - your debts, income, career, down payment money, among other things. It's quick and basic; and we keep the paperwork to a minimum.
You can certainly use the mortgage calculators on our site to calculate how much mortgage you'll be able to afford - but it's also essential to meet with us. We can begin getting your pre-qualification letter. Then, we will make sure we have found the ideal mortgage loan program for you. Let us help you get started: Call us at (443) 619-7900.
Have questions about pre-qualifying? Call us at (443) 619-7900. It's our job to answer pre-qualification questions, so we're happy to help!