Why Pre-Qualification is Important
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It can be valuable to visit with a mortgage loan pro early, even if you haven't decided what type of house you hope to find. Why? If you do not know yet how much home you want to qualify for, how could we help?
We Can Help You Pre-Qualify
We will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We achieve this by analyzing your debts and income, your employment and housing situations, the funds available for a down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
Once you are determined to be eligible, we document our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
When you find a house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage will do a number of things. First, it helps you know the amount that you can offer.
Of greater importance to the current home owner, your pre-qualification is like your having walked into their house with a bag full of cash to purchase their home! They need not wonder if that they have been wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary loan amount won't cause them concern. You have the ability to back your offer up.
We help with your pre-qualification
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. We will accomplish this by reviewing your debts and income, your work and housing circumstances, the funds available for down payment, required reserves, and other financial considerations. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
While you are encouraged to try our mortgage calculators on this site, it's essential to meet with one of our mortgage professional team members. We can begin getting your pre-qualification letter. For another thing, we could find a different mortgage option that is a better fit for you. Let us help you get started: Call us at 405-513-7700.
Have questions about pre-qualifying? Call us at 405-513-7700. It's our job to answer pre-qualification questions, so we're happy to help!