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It's helpful to consult with your mortgage loan professional early — even before you've started to research neighborhoods. What for? What can we do for you if you have not made your offer, and don't know yet how much you want to borrow?
When we pre-qualify you, we help you determine the amount in mortgage payments you can afford, and the loan amount you can qualify for. In the process, we calculate your ability to borrow - looking at your employment, available money for down payment, existing debt, income, and other circumstances. We will require a minimum amount of paperwork, and avoid a lengthy process.
After you are determined to be eligible, we will prove our confidence in your ability to qualify for a loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Once you locate the house that is best for you, and you decide to put together an offer, being pre-qualified for a mortgage will do a number of things. First of all, you have some concrete numbers in mind, as the total you will qualify for with your loan.
Being pre-qualified also will make your offer more attractive to the home seller, like you were bringing them a suitcase of cash! They won't need to worry that they have been wasting their time if you will not have the ability to qualify for a high enough mortgage. The seller of the home won't worry if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't cause them concern. They have a virtual guarantee that they can trust your buying power.
We help with your pre-qualification
When we pre-qualify you, we help you decide the amount you can afford in monthly mortgage payments you can afford, and the loan amount you can qualify for. During this process, we determine your borrowing power - analyzing your employment, money available for down payment, debts, income, and other circumstances. We as for a minimum amount of paperwork, and avoid a lengthy process.
While you can use our mortgage calculators on our website, it's essential to meet with one of our mortgage professional team members. That way, we will be able to help you get your pre-qualification letter. For another thing, we might find a different mortgage choice that fits your needs better. We are eager to meet with you: call us at 435-755-6622.
Have questions about pre-qualifying? Call us at 435-755-6622. Chase Mortgage answers pre-qualifying questions every day.