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It can be valuable to see a mortgage professional early, even if you haven't settled on the kind of home to look for. Why? What can we do for you before you have negotiated an amount, and do not yet know how much you want to borrow?
When we pre-qualify you, we help you determine the amount in mortgage payments you can fit in your budget, and how much we of a loan you will qualify for. We achieve this by analyzing your debts and income, your work and housing situations, the funds available for down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.
We will award you a Pre-Qualification Letter when you qualify, which says that we're confident you can qualify for up to a specific amount of mortgage dollars.
After you locate the house that catches your eye, and you want to make an offer, being pre-qualified for a loan will do a number of things. The first is that you'll be sure what you will be able to afford when calculating the offer.
More important to the seller, your being pre-qualified is like your having walked into their house with a suitcase full of cash ready to purchase their house! They need not wonder if that they're wasting their time if you can't be able to qualify for a big enough mortgage. 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 your needed mortgage loan amount won't be something for them to fret over. You have the ability to back your offer up.
We help with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. The process outlines your financial situation - your debt, income, career, cash available for down payment, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
One on one
It's vital for you to sit down and talk with us, even though you are free to also use the helpful mortgage loan calculator tools on our site. That way, we will be able to help you get your pre-qualification letter. For another thing, we may find a different mortgage loan option that better fits your needs. Contact us at 864-438-4550 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 864-438-4550. First Home Equity Loans answers pre-qualifying questions every day.