Why it's Important to Pre-Qualify
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It's valuable to visit with a mortgage loan pro first, even if you haven't settled on the kind of home to search for. What for? If you don't know yet how much house you need to qualify for, what can we help you with?
Our mortgage professionals will help you determine the loan amount you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. We accomplish this by reviewing your debts and income, your employment and residence situations, your available funds for a down payment, required reserves, and other financial considerations. We ask for a minimum amount of paperwork, and avoid a lengthy process.
When you are considered eligible, we document our confidence in your capacity to qualify for a mortgage by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Holding your pre-qualification letter, several advantages fall at your feet once you find the home you want to put together an offer on. First, it helps you know how much you're able to offer.
Being pre-qualified also will make your offer look even better to the home seller, as if you were bringing them a suitcase full of cash! They won't need to wonder if they have been wasting their time if you will not have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to be concerned about. You have the ability to back your offer up.
We will help you pre-qualify
When we pre-qualify you, we help you find out how much of a monthly mortgage payment you can fit in your budget, and how much we of a loan you can qualify for. This process outlines your finances - your debt, income, career, down payment money, among other things. It is a short, thorough process with minimal risks for papercuts.
One on one
While you can use our tools to calculate mortgage variables on our website, it's essential to meet with us. We can begin working on your pre-qualification letter. For another thing, we could find a different mortgage loan option that better fits your needs. Contact us at 504-866-5626 to get started.
Have questions about pre-qualifying? Call us at 504-866-5626. It's our job to answer pre-qualification questions, so we're happy to help!
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