Why it's Important to Pre-Qualify
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Even if you haven't so much as picked out homes to visit yet, it's valuable to visit with your mortgage professional first. Why? What can we do for you before you have negotiated a price, and do not yet know how much you want to borrow?
We Can Help You Pre-Qualify
We can help you see how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. We do this by analyzing your debts and income, your work and housing circumstances, the available funds for down payment, required reserves, and some other things. It's quick and to the point; We keep the paperwork light.
When you are determined to be eligible, we prove our confidence in your capacity to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
A number of advantages open to you after you find your dream house, and have pre-qualification. The first is that you can be sure what you'll be able to afford when putting together your offer.
Of greater importance to the current home owner, your being pre-qualified is like your having walked into their house with a bag full of money to purchase their house! They won't need to be concerned they're wasting their time if you don't be able to qualify for a high enough mortgage loan. 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 lose sleep over. You have the capability to back up your offer.
We will help you with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. The process outlines your finances - your debt, income, career, cash available for down payment, among other things. It's quick and basic; and we keep the paperwork to a minimum.
One on one
It's vital to sit down and meet with us, even though you are welcome to also use the helpful mortgage calculators on our website. That way, we will help you get your pre-qualification letter. Next, we can consider your mortgage loan options to be sure you have found the right one. Contact us at (334) 285-8850 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (334) 285-8850. First Community Bank of Central Al. answers pre-qualifying questions every day.