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It's important to consult with your mortgage loan professional early — even before you have started to consider neighborhoods. What for? If you do not know yet how much home you want to qualify for, what could we help you with?
We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. During the process, we look at your borrowing potential - analyzing your earning status, money available for down payment, debt, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.
At the point you are determined to be eligible, we document our confidence in your potential to qualify for a mortgage by awarding you a Pre-Qualification Letter (also called a "pre-qual").
When you locate a house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage will do several things. First of all, you have some definite numbers in mind, as the total you will qualify for with your loan.
Having pre-qualification also will make your offer more attractive to the home seller, like you were bringing them a suitcase full of cash! They will not need to wonder if they are wasting their time if you do not be able to qualify for a big enough mortgage loan. 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 loan amount won't be something for them to fret over. You have the capability to back your offer up.
We will help you with your pre-qualification
We will help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. The process takes you through your finances - your debt, income, career, cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.
It is vital for you to sit down and meet with us, even though you are welcome to also use the helpful mortgage loan calculators on our website. For one thing, you'll need a Pre-Qualification Letter! Next, we can review your mortgage loan options to make sure you have selected the right one. Contact us at 708.499.6088 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 708.499.6088. We answer pre-qualification questions every day.