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It is helpful to consult with your mortgage professional early — even before you have begun researching neighborhoods. Why? What can we do for you before you have made your offer, and don't yet know the amount you want to borrow?
When we pre-qualify you, we help you decide the amount in monthly mortgage payments you can afford, and the size of loan you can qualify for. We can accomplish this by reviewing your income and debts, your work and housing situations, your funds available for down payment, required reserves, and other financial considerations. It is a quick, thorough process with minimal risks for papercuts.
We'll award you a Pre-Qualification Letter once you qualify, which documents that we are confident you'll qualify for a certain amount of mortgage loan dollars.
Power in the Pre-Qual
Several advantages open to you once you've found your new house, and have pre-qualification. First of all, you have some general numbers in mind, as the amount you will be able to borrow.
Being pre-qualified can also make your offer more attractive to the home seller, as if you were bringing them a suitcase full of cash! They will not need to worry that that they are wasting their time if you won't be able to have the ability to qualify for a big 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 mortgage loan amount won't cause them concern. You have the capability to back your offer up.
We will help you with your pre-qualification
When we pre-qualify you, we help you find out how much of a monthly mortgage payment you can afford, and the size of loan you will qualify for. This process outlines your finances - your debts, income, employment, cash available for down payment, among other things. It's short and basic; and we keep the paperwork to a minimum.
You can certainly use the mortgage calculators on this site to calculate how much mortgage you'll be able to afford - but it's also valuable to meet with one of our mortgage professionals. We can walk you through your pre-qualification letter. Then, we'll make sure we have the ideal mortgage loan program for you. We're waiting to hear from you: contact us at 603-893-6616.
Have questions about pre-qualifying? Call us at 603-893-6616. It's our job to answer pre-qualification questions, so we're happy to help!