When to Speak to Your Mortgage Professional About Pre-Qualification
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Even if you haven't so much as picked out homes to visit yet, it's valuable to contact your mortgage professional first. Why? When you don't know yet how much home you want to qualify for, how could we help?
We can help you calculate how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through pre-qualifying. In the process, we explore your borrowing capacity - analyzing your employment, available money for down payment, existing debt, income, and other circumstances. We require a minimum amount of paperwork, and avoid a lengthy process.
At the point you are considered eligible, we prove our confidence in your potential to qualify for a mortgage loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Some beneifits open to you once you find your new house, and have achieved pre-qualification. First, you have some definite numbers in mind, as the total you will qualify for with your mortgage loan.
Even more important to the seller of the home, your pre-qualification gives them certainty - as if you had entered their house with a big box of cash to back up the offer! They will not have to worry that that they have been wasting their time if you do not be able to qualify for a big enough mortgage loan. The seller won't wonder if he can trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the capability to back your offer up.
We can help you pre-qualify
Our mortgage professionals will help you determine the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. In the process, we explore your capacity to borrow - reviewing your job, money available for down payment, existing debt, income, and other circumstances. It is a short, thorough process with minimal risks for papercuts.
While you can try our mortgage calculators on this website, it will be a good idea to meet with us. That way, we'll help you get your pre-qualification letter. Then, we will make sure we have the ideal mortgage loan program for you. We are waiting to meet with you: call us at (334) 285-8850.
Have questions about pre-qualifying? Call us at (334) 285-8850. It's our job to answer pre-qualification questions, so we're happy to help!