When to Talk to Your Mortgage Professional
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It's valuable to visit with a mortgage professional first, even if you haven't decided what type of home you hope to find. What for? What can we do for you if you have not negotiated an amount, and do not know yet the amount you need to borrow?
We will help you calculate how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. During the process, we explore your borrowing capacity - reviewing your job, money available for down payment, existing debt, income, and other circumstances. It's a short, thorough process with minimal risks for papercuts.
We award you a Pre-Qualification Letter if you qualify, which says that we are confident you'll qualify for a predetermined amount of mortgage loan dollars.
Various beneifits open to you when you have found your new house, and have achieved pre-qualification. First, it lets you know the amount that you can offer.
Even more important to the seller of the home, your pre-qualification letter gives them certainty - as if you'd entered their house with a suitcase of cash to back up the offer! They will not need to be concerned they are wasting their time if you do not have the ability to qualify for a big enough mortgage. The seller of the home 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 mortgage loan amount won't be something for them to worry about. You have the capability to back your offer up.
We will help you with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in mortgage payments you can afford, and how much we of a loan you can qualify for. This process leads you through your finances - your debt, income, employment, cash available for down payment, among other things. It is a short, thorough process with minimal risks for papercuts.
One on one
While you are able to benefit from our mortgage calculators on this site, it's a good idea to meet with us. For one thing, you will want a Pre-Qualification Letter! Then, we will make sure we have the best mortgage program for your situation. Contact us at 504-866-5626 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 504-866-5626. Coastal Mortgage Corp. answers pre-qualifying questions every day.