When to Speak to a Mortgage Professional About Pre-Qualification
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It is helpful to bring in your mortgage loan professional early — even before you've started to research neighborhoods. What for? Perhaps it's hard to understand the ways in which we can help even before you start to calculate your offer.
We can help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. During the process, we determine your borrowing capacity - reviewing your employment, available money for down payment, debt, income, and other circumstances. We ask for a minimum amount of paperwork, and avoid a lengthy process.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that says that we are working with you to find the ideal mortgage loan program to fit your situation and that we are confident you will qualify for a mortgage loan for a certain amount.
Power in the Pre-Qual
With your pre-qualification letter, some advantages fall at your feet once you locate the house you want to put together an offer on. The first is that you can know the amount you can afford when determining the offer.
Your pre-qualification can also make your offer more attractive to the seller, like you were bringing them a big box of cash! They need not be concerned they are wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed loan amount will not be something for them to be concerned about. You will have the sway of a buyer ready to make the deal on the spot!
We can help you pre-qualify
Our mortgage professionals can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. The process outlines your finances - your debt, income, employment, cash available for down payment, among other things. It is a quick, thorough process with minimal risks for papercuts.
Face to Face
While you are able to benefit from our tools to calculate mortgage variables on our site, it's a good idea to sit down and talk with one of our mortgage professional team members. For one thing, you'll need a Pre-Qualification Letter! For another thing, we might find a different mortgage program that is a better fit for you. Let us help you get started: Contact us at (334) 285-8850.
Have questions about pre-qualifying? Call us at (334) 285-8850. We answer pre-qualification questions every day.