Why Pre-Qualification is Important
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It's valuable to consult with your mortgage loan professional early — even before you have started researching neighborhoods. Why? What can we do for you before you have made an offer, and don't know yet the amount you need to borrow?
We Can Help You Pre-Qualify
We can help you find out the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. This process walks you through your financial situation - your debt, income, career, and down payment money, among other things. It's short and basic; We take pride in keeping the paperwork light.
Once you are considered eligible, we document our confidence in your capacity to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Various beneifits open to you after you have found your new house, and have pre-qualification. First, it helps you know how much you can offer.
Having pre-qualification will also make your offer look even better to the seller, as if you were bringing them a big box of cash! They will not need to worry that that they're wasting their time if you don't be able to qualify for a high enough mortgage loan. The seller 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 will not be something for them to worry about. You have the ability to back up your offer.
We can help you pre-qualify
When we pre-qualify you, we help you figure out how much of a monthly payment you can afford, and how much we of a loan you will qualify for. In this process, we look at your borrowing power - analyzing your employment, available money for down payment, debt, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
It is vital to sit down and meet with us, even though you are welcome to also try the helpful mortgage calculators on our site. We can work toward your pre-qualification letter. Next, we can review your mortgage program choices and be sure you are in the right one. Let us help you get started: Call us at 864-438-4550.
Have questions about pre-qualifying? Call us at 864-438-4550. First Home Equity Loans answers pre-qualifying questions every day.