The Importance of Pre-Qualifying For A Home Loan
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Even if you've not so much as researched homes to visit yet, it can be valuable to see your mortgage loan professional early. What for? If you do not know yet how much house you want to qualify for, what could we help you with?
We Can Help You Pre-Qualify for a Mortgage
When we pre-qualify you, we help you figure out how much of a monthly home loan payment you can fit in your budget, and the loan amount you will qualify for. The process outlines your financial situation - your debt, income, employment, and cash available for down payment, among other things. It is a quick, thorough process with minimal risks for paper-cuts.
When you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are working with you to find the right mortgage loan program to meet your financial needs and that we're confident you will qualify for a mortgage for up to a certain amount.
Mortgage Loan Buying Power
After you locate a house that meets your needs, and you decide to put together an offer, being pre-qualified for a mortgage loan will do a couple of things. First of all, you have some concrete numbers in mind, as the total you will qualify for on your mortgage.
More important to the home seller, your pre-qualification is like your having walked into their house with a bag full of cash to purchase their house! They will not need to wonder if they are wasting their time if you do not have the ability to qualify for a big 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 your needed loan amount won't cause them concern. You'll have the influence of a buyer ready to make the purchase on the spot!
We Will Help You With Your Mortgage Pre-Qualification
We will help you calculate the loan amount you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. In this process, we calculate your capacity to borrow - looking at your job, available money for down payment, existing debt, income, and other circumstances. It's a quick, thorough process with minimal risks for paper-cuts.
Personalized Help From A Home Loan Officer
It's important to sit down and meet with us, even though you are welcome to also use the helpful mortgage loan calculators on our site. We can walk you through your pre-qualification letter. Then, we'll make sure we have found the right mortgage program for your situation. Let us get you started: Contact us at (727) 259-2900.
Have questions about pre-qualifying? Call us at (727) 259-2900. It's our job to answer pre-qualification questions, so we're happy to help!