Why Pre-Qualification is Important
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Even if you've not researched homes to view yet, it can be advantageous to contact your mortgage pro early. Why? How can we help you if you have not made your offer, and do not know yet the amount you need to borrow?
When we pre-qualify you, we help you determine the amount in mortgage payments you can afford, and the size of loan you can qualify for. We achieve this by analyzing your income and debts, your work and housing circumstances, your funds available for down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
At the point you are determined to be eligible, we will prove our confidence in your capacity to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Armed with your pre-qualification letter, several advantages fall at your feet when you locate the house you want to make an offer on. First, it lets you know the amount that you are able to offer.
Your pre-qualification will also make your offer more attractive to the home seller, like you were bringing them a big box of cash! They will not have to be concerned they are wasting their time if you will not have the ability to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount will not cause them concern. You have the ability to back up your offer.
We help with your pre-qualification
We will help you calculate how much of a loan you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. We will do this by considering your debts and income, your work and housing circumstances, the available funds for a down payment, required reserves, and other considerations. It is a short, thorough process with minimal risks for papercuts.
Face to Face
While you are able to use our mortgage calculators on this website, it's essential to meet with one of our mortgage professional team members. For one thing, you'll want a Pre-Qualification Letter! For another thing, we could be able to find a different mortgage loan option that better fits your needs. Contact us at (443) 619-7900 to get started.
Have questions about pre-qualifying? Call us at (443) 619-7900. Hawk Mortgage Group answers pre-qualifying questions every day.