When to Talk to Your Mortgage Pro About Pre-Qualification
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It's helpful to see a mortgage loan pro first, even before you have determined what sort of home you hope to find. What for? It might be hard to understand the ways in which we can help even before you begin to negotiate.
We Can Help You Pre-Qualify
We will help you see how much of a mortgage you can afford, and how much money you can borrow, by taking you through pre-qualifying. This process outlines your current financial situation - your debt, income, job, and cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.
Once you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which states that we are working with you to find the right mortgage to meet your situation and that we are confident you'll qualify for a mortgage for a certain amount.
A number of advantages open to you once you find your next house, and have pre-qualification power. First, you have some general numbers in mind, as the total you can borrow.
Having pre-qualification can also make your offer more attractive to the seller, like you were bringing them a bag full of cash! They won't have to worry that they are wasting their time if you can't be able to qualify for a big enough mortgage. The seller won't wonder if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not be something for them to worry about. You have the ability to back up your offer.
We will help you with your pre-qualification
We can help you find out how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. In this process, we calculate your ability to borrow - looking at your employment, available money for down payment, debt, income, and other areas. It's quick and to the point; and we keep the paperwork to a minimum.
While you can use our mortgage calculators on this website, it's essential to meet with one of our mortgage professional team members. That way, we'll be able to help you get your pre-qualification letter. Next, we can consider your mortgage program options and make sure you have selected the right one. Contact us at 405-513-7700 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 405-513-7700. We answer pre-qualification questions every day.