It is important to see a mortgage professional early, even if you haven't decided the sort of home to search for. What for? When you don't know yet how much house you want to qualify for, what can we do for you?
We can help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through pre-qualifying. We can do this by reviewing your debts and income, your work and housing situations, your funds available for a down payment, required reserves, and other considerations. It is a quick, thorough process with minimal risks for papercuts.
After you qualify, we give you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which says that we are working with you to find the right mortgage to meet your needs and that we are confident you will qualify for a loan up to a certain amount.
Various advantages open to you when you've found your new house, and have pre-qualification power. First of all, you have some definite numbers in mind, as the total you will be able to borrow. More important to the home seller, your being pre-qualified is like your having entered their front door with a suitcase full of money to make the deal! They won't need to worry that that they are wasting their time if you can't have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount won't be something for them to fret over. They have a virtual guarantee that they can trust your ability to back up your offer.
Our mortgage professionals will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. This process outlines your financial situation - your debt, income, employment, down payment money, among other things. We as for a minimum amount of paperwork, with a quick process.
It's vital for you to sit down and meet with us, even though you are welcome to also use the helpful mortgage loan calculator tools on our website. For one thing, you will need a Pre-Qualification Letter! Next, we can review your mortgage options and make sure you have found the right one. We're waiting to hear from you: call us at 864-438-4550.