Why Pre-Qualification is Important
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Even if you've not researched homes to visit yet, it's advantageous to visit with your mortgage professional early. Why? It might be hard to fathom the ways in which we could help even before you begin to negotiate.
We Can Help You Pre-Qualify
We can help you determine how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. In this process, we look at your ability to borrow - looking at your employment, money available for down payment, debts, income, and other areas. It's a short, thorough process with minimal risks for papercuts.
When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that states that we are working with you to find the right mortgage loan program to meet your situation and that we are confident you will qualify for a mortgage for up to a certain amount.
When you find a house that is best for you, and you decide to put together an offer, being pre-qualified for a loan will do several things. First, it lets you know how much you are able to offer. Even more important to the seller of the house, your pre-qualification gives them certainty - as if you'd entered their home with a big box of cash to make the offer! They will not need to worry that that they have been wasting their time if you do not be able to qualify for a big enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount won't be something for them to worry about. You can have the clout of a buyer ready to make the deal right now!
We will help you pre-qualify
Our mortgage professionals will help you determine the loan amount you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. The process outlines your current financial situation - your debts, income, job, down payment money, among other things. It's short and basic; and we keep the paperwork to a minimum.
One on one
You can always use the mortgage calculators here on our site to calculate how much mortgage you will be able to afford - but it's also essential to meet with one of our mortgage professionals. We can walk you through your pre-qualification letter. For another thing, we might find a different mortgage option that is a better fit for you. Let us get you started: Contact us at 415-731-3100.