When to Speak to a Mortgage Pro About Pre-Qualifying
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It's important to visit with a mortgage professional first, even if you haven't settled on what sort of house you hope to find. What for? Maybe it is difficult to fathom how we could help even before you begin to negotiate.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in monthly mortgage payments you can afford, and how much we of a loan you can qualify for. The process outlines your finances - your debts, income, job, and down payment money, among other things. It is a short, thorough process with minimal risks for papercuts.
After you qualify, we present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that says that we are working with you to find the ideal mortgage to fit your situation and that we're confident you will qualify for a mortgage loan for a certain amount.
Power in the Pre-Qual
After you find the house that meets your needs, and you decide to make an offer, being pre-qualified for a mortgage will do several things. The first is that you can be sure the amount you can afford when calculating your offer.
Your pre-qualification will also make your offer more attractive to the home seller, as if you were bringing them a suitcase full of cash! They will not need to be concerned they have been wasting their time if you can't 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 cause them concern. You have the ability to back up your offer.
We will help you with your pre-qualification
Our mortgage professionals can help you determine the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. In the process, we calculate your borrowing potential - looking at your job, available money for down payment, debts, income, and other areas. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
While you can use our tools to calculate mortgage variables on this site, it will be a good idea to meet with us. We can walk you through your pre-qualification letter. Next, we can consider your mortgage program options and make sure you have chosen the right one. We're eager to meet with you: contact us at 504-866-5626.
Have questions about pre-qualifying? Call us at 504-866-5626. We answer pre-qualification questions every day.