When to Talk to Your Mortgage Professional About Pre-Qualifying

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Even if you've not narrowed down houses to view yet, it's important to see your mortgage loan professional first. Why? If you do not yet know how much house you want to qualify for, how can we help?

Pre-Qualify

We will help you calculate the loan amount you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. We achieve this by reviewing your debts and income, your work and housing situations, your funds available for a down payment, required reserves, and some other things. It's short and basic; We take pride in keeping the paperwork light.

Once you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are working with you to find the best mortgage loan program to meet your financial needs and that we're confident you'll qualify for a mortgage for up to a specific amount.

Buying Clout

With your pre-qualification letter, some advantages are yours once you find the home you want to make an offer for. First, you have some concrete numbers in mind, as the total you will be able to borrow. Of greater importance to the existing home owner, your being pre-qualified is like your having walked into their front door with a suitcase full of cash to purchase their house! They need not wonder if they have been wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount will not cause them concern. You have the clout of a buyer ready to make the purchase right now!

We help with your pre-qualification

When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can fit in your budget, and how much we of a loan you will qualify for. During the process, we look at your ability to borrow - looking at your employment, money available for down payment, debt, income, and other areas. We as for a minimum amount of paperwork, with a short, basic process.

One on one

You can always use the calculators here on our site to calculate the size mortgage you can afford - but it's also valuable to meet with us. For one thing, you will want a Pre-Qualification Letter! For another thing, we may locate a different mortgage loan option that fits your goals better. We're eager to hear from you: call us at 919-787-6080.

Have questions about pre-qualifying? Call us at 919-787-6080. We answer pre-qualification questions every day.