Why Pre-Qualification is Important
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Even if you've not researched homes to view yet, it is valuable to visit with your mortgage loan professional first. What for? When you don't know yet how much home you need to qualify for, what can we do for you?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you decide the amount in mortgage payments you can afford, and the size of loan you will qualify for. We achieve this by reviewing your debts and income, your work and residence circumstances, your available funds for a down payment, required reserves, and some other things. It's short and to the point; We keep the paperwork to a minimum.
We give you a Pre-Qualification Letter if you qualify, which says that we're confident you'll qualify for a certain amount of mortgage loan dollars.
After you locate a house that is right for you, and you decide to put together an offer, being pre-qualified for a mortgage will do several things. First, you have some concrete numbers in mind, as the amount you will qualify for on your loan.
Even more important to the seller, your pre-qualification status gives them confidence - as if you had come to their house with a big box of cash to back up the offer! They need not wonder if that they have been wasting their time if you will not be able to qualify for a big enough mortgage. The seller won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. You have the capability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly payment you can fit in your budget, and the size of loan you can qualify for. We can do this by analyzing your debts and income, your work and housing situations, your funds available for down payment, required reserves, and other considerations. It's short and basic; and we take pride in keeping the paperwork light.
Face to Face
You can certainly use the calculators on this website to calculate how much mortgage you'll be able to afford - but it's also important to talk with one of our mortgage professionals. For one thing, you'll need a Pre-Qualification Letter! Then, we will make sure we have selected the best mortgage program for your situation. Contact us at (334) 285-8850 to get your pre-qualification process started.
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!