When to Speak to Your Mortgage Professional
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It is important to bring in your mortgage professional early — even before you've begun researching neighborhoods. What for? What can we do for you before you have negotiated an amount, and do not yet know how much you need to borrow?
We will help determine how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. We can achieve this by reviewing your income and debts, your work and residence circumstances, the funds available for down payment, required reserves, and some other things. It's short and basic; We keep the paperwork to a minimum.
At the point you are considered eligible, we document our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
With your pre-qualification letter, some advantages fall at your feet once you find the house you want to make an offer for. First of all, you have some concrete numbers in mind, as the total you will qualify for on your mortgage loan.
Even more important to the seller of the home, your pre-qualification gives them certainty - as if you had come into their home with a suitcase of cash to back up the offer! They will not need to be concerned that they are wasting their time if you do not 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 your needed loan amount won't cause them concern. You have the sway of a buyer ready to make the purchase right now!
We help with your pre-qualification
We will help you see how much of a mortgage loan you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. We accomplish this by considering your income and debts, your employment and housing situations, the available funds for down payment, required reserves, and some other things. It's quick and basic; and we keep the paperwork to a minimum.
One on one
You can always use the calculators available on this site to calculate how much mortgage you'll be able to afford - but it's also valuable to talk with us. That way, we'll be able to help you get your pre-qualification letter. Next, we can review your mortgage loan options to make sure you are in the right one. We're eager to hear from you: call us at 603-893-6616.
Have questions about pre-qualifying? Call us at 603-893-6616. We answer pre-qualification questions every day.