When to Speak to a Mortgage Professional
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It is valuable to consult your mortgage professional early — even before you have started to consider neighborhoods. What for? When you do not know yet how much house you need to qualify for, how can we help?
We will help you find out how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. We achieve this by analyzing your debts and income, your employment and residence situations, the funds available for a down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which documents the fact that we are helping you to find the right loan program to fit your situation and that we're confident you'll qualify for a mortgage loan up to a certain amount.
Once you locate a house that meets your needs, and you want to put together an offer, being pre-qualified for a mortgage loan will do several things. First, it helps you know the amount that you can offer.
Your pre-qualification also will make your offer look even better to the home seller, as if you were bringing them a big box of cash! They will not need to wonder if they have been wasting their time if you can't have the ability 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 loan.Your qualifying for your needed loan amount will not cause them concern. You have the sway of a buyer ready to make the purchase on the spot!
We will help you pre-qualify
We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through pre-qualifying. The process walks you through your finances - your debt, income, employment, down payment money, among other things. We require a minimum amount of paperwork, with a quick process.
One on one
It is vital to sit down and talk with us, even though you are welcome to also try the helpful mortgage calculators on this site. For one thing, you will need a Pre-Qualification Letter! Then, we will make sure we have the ideal mortgage loan program for you. Contact us at 435-755-6622 to get started.
Have questions about pre-qualifying? Call us at 435-755-6622. Chase Mortgage answers pre-qualifying questions every day.