Why it's Important to Pre-Qualify
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Even if you haven't so much as picked out houses to view yet, it's valuable to visit with your mortgage pro first. Why? What can we do for you if you have not negotiated a purchase amount, and don't yet know the amount you need to borrow?
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the size of loan you can qualify for. This process takes you through your finances - your debts, income, employment, and cash available for down payment, among other things. It is a quick, thorough process with minimal risks for papercuts.
Once you are considered eligible, we document our confidence in your potential to qualify for a mortgage by giving you a Pre-Qualification Letter (also called a "pre-qual").
Holding your pre-qualification letter, several advantages fall at your feet when you find the house you want to make an offer for. First, it helps you know how much you're able to offer.
More important to the seller, your pre-qualification is like your having entered their front door with a bag full of money ready to purchase their house! They will not need to be concerned that they're wasting their time if you won't be able to have the ability to qualify for a high enough mortgage. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not cause them concern. You have the capability to back up your offer.
We will help you pre-qualify
Our mortgage professionals can help you find out how much of a loan you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. In this process, we explore your ability to borrow - looking at your earning status, money available for down payment, debts, income, and other areas. It is a quick, thorough process with minimal risks for papercuts.
One on one
You can always use the calculators available on our site to calculate the size mortgage you will be able to afford - but it's also valuable to talk with one of our mortgage professionals. For one thing, you will need a Pre-Qualification Letter! Then, we will make sure we have the right mortgage program for you. Let us get you started: Call us at 435-755-6622.
Have questions about pre-qualifying? Call us at 435-755-6622. We answer pre-qualification questions every day.