When to Talk to a Mortgage Pro About Pre-Qualification
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It is important to consult your mortgage loan professional early — even before you've begun researching neighborhoods. What for? When you do not yet know how much home you want to qualify for, how can we help?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and the loan amount you will qualify for. In the process, we calculate your borrowing potential - looking at your employment, available money for down payment, debts, income, and other areas. We will ask for a minimum amount of paperwork, with a short,basic process.
We'll award you a Pre-Qualification Letter once you qualify, which says that we're confident you'll qualify for up to a specific amount of mortgage dollars.
Some advantages open to you once you find your next house, and have achieved pre-qualification power. First of all, you have some general numbers in mind, as the amount you will qualify for with your mortgage.
Even more important to the seller of the home, your pre-qualification gives them certainty - as if you had entered their home with a suitcase of cash to make the offer! They will not need to be concerned they are wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller won't worry if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not cause them concern. You have the influence of a buyer ready to make the purchase right now!
We help with your pre-qualification
We can help you calculate the loan amount you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We do this by analyzing your debts and income, your work and residence situations, your funds available for down payment, required reserves, and other considerations. It's a short, thorough process with minimal risks for papercuts.
You can certainly use the mortgage calculators available on this site to calculate how much mortgage you'll be able to afford - but it's also important to talk with one of our mortgage professionals. We can work toward your pre-qualification letter. For another thing, we might find a different mortgage option that fits your goals better. Let us get you started: Contact us at 435-755-6622.
Have questions about pre-qualifying? Call us at 435-755-6622. CHASE MORTGAGE INC #317430 answers pre-qualifying questions every day.