When to Talk to Your Mortgage Professional
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Even if you have not so much as narrowed down homes to visit yet, it can be valuable to contact your mortgage pro early. Why? How can we help if you haven't negotiated a price, and do not know yet the amount you need to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you figure out how much of a monthly payment you can fit in your budget, and the size of loan you will qualify for. We will accomplish this by considering your debts and income, your employment and residence circumstances, the available funds for a down payment, required reserves, and some other things. It's quick and to the point; We keep the paperwork light.
Once you qualify, we give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which says that we are helping you to find the ideal mortgage loan program to fit your financial needs and that we are confident you will qualify for a loan for up to a certain amount.
Several benefits open to you once you have found your new house, and have pre-qualification. First, it helps you know how much you can offer. Even more important to the seller of the house, your pre-qualification gives them certainty - as if you had arrived at their house with a bag of cash to back up the offer! They will not need to be concerned that they are wasting their time if you won't be able to have the ability to qualify for a high enough mortgage. The seller of the home won't worry if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount won't be something for them to fret over. They have a virtual guarantee to trust your buying power.
We will help you pre-qualify
We will help you see how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by taking you through the pre-qualification process. We achieve this by reviewing your debts and income, your employment and residence situations, your funds available for down payment, required reserves, and some other things. It's short and to the point; and we take pride in keeping the paperwork light.
You can certainly use the calculators available on our site to calculate how much mortgage you'll be able to afford - but it's also important to talk with one of our mortgage professionals. We can begin working on your pre-qualification letter. Then, we can make sure we have the best mortgage loan program for you. Contact us at 559-322-5005 to get started.