When to Speak to a Mortgage Professional About Pre-Qualifying
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Even if you've not so much as researched homes to view yet, it can be valuable to see your mortgage professional early. Why? It may be hard to understand the ways in which we could help even before you begin to negotiate.
Our mortgage professionals can help you find out the loan amount you can qualify for and the monthly payment amount you are able to afford by helping you pre-qualify. In this process, we explore your capacity to borrow - reviewing your job, money available for down payment, debts, income, and other circumstances. It is a quick, thorough process with minimal risks for papercuts.
Once you qualify, we present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which states that we are helping you to find the ideal mortgage to fit your financial needs and that we're confident you'll qualify for a loan for up to a certain amount.
When you locate a house that catches your eye, and you want to make an offer, being pre-qualified for a loan will do several things. The first is that you can know what you can afford when determining the offer.
Even more important to the seller of the home, your pre-qualification status gives them certainty - as if you had arrived at their house with a bag of cash to back up the offer! They won't need to be concerned that they have been wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he can't trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We help with your pre-qualification
We can help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through pre-qualifying. The process walks you through your financial situation - your debts, income, employment, cash available for down payment, among other things. It is a short, thorough process with minimal risks for papercuts.
Face to Face
It is important for you to sit down and talk with us, even though you are free to also utilize the helpful mortgage calculators on our website. For one thing, you will need a Pre-Qualification Letter! Next, we can study your mortgage loan choices to make sure you have selected the right one. Let us get you started: Call us at 405-513-7700.
Have questions about pre-qualifying? Call us at 405-513-7700. Price Mortgage Group LLC answers pre-qualifying questions every day.