The Importance of Pre-Qualification
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It is helpful to visit with a mortgage loan pro early, even before you've decided the kind of home you hope to find. Why? How can we help before you have made your offer, and don't know yet the amount you need to borrow?
Our mortgage professionals can help you find out the loan amount you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. This process leads you through your finances - your debt, income, career, and cash available for down payment, among other things. It is a short, thorough process with minimal risks for papercuts.
Once you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that documents the fact that we are working with you to find the best mortgage to fit your situation and that we are confident you will qualify for a mortgage up to a specific amount.
Some advantages open to you when you've found your new house, and have pre-qualification power. First, it lets you know the amount that you're able to offer.
Being pre-qualified will also make your offer more attractive to the seller, like you were bringing them a big box of cash! They will not need to be concerned that they have been wasting their time if you don't be able to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not be something for them to worry about. You have the influence of a buyer ready to make the purchase on the spot!
We help with your pre-qualification
When we pre-qualify you, we help you decide how much of a monthly payment you can afford, and the loan amount you can qualify for. During the process, we explore your borrowing potential - analyzing your employment, available money for down payment, debts, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
It's vital for you to sit down and talk with us, even though you are free to also try the helpful mortgage loan calculators on this site. That way, we will help you get your pre-qualification letter. Next, we can study your mortgage program options and be sure you have selected the best one. Contact us at 504-866-5626 to get started.
Have questions about pre-qualifying? Call us at 504-866-5626. We answer pre-qualification questions every day.