The Importance of Pre-Qualifying
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It's helpful to visit with a mortgage professional first, even if you haven't decided the kind of home to search for. What for? It may be difficult to fathom how we can help even before you start to negotiate.
We can help you see how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by taking you through pre-qualifying. We do this by reviewing your income and debts, your employment and residence circumstances, the funds available for down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
We'll give you a Pre-Qualification Letter after you qualify, that states that we are confident you'll qualify for up to a predetermined amount of mortgage dollars.
After you find the house that is best for you, and you decide to make an offer, being pre-qualified for a mortgage will do several things. First of all, you have some concrete numbers in mind, as the total you will be able to borrow.
Even more important to the seller of the house, your pre-qualification gives them certainty - as if you had come into their house with a bag of cash to back up the offer! They need not be concerned they have been wasting their time if you won't be able to have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary loan amount will not cause them concern. You have the capability to back up your offer.
We will help you pre-qualify
When we pre-qualify you, we help you determine the amount you can afford in mortgage payments you can afford, and the loan amount you can qualify for. This process walks you through your finances - your debt, income, employment, down payment money, among other things. It's a short, thorough process with minimal risks for papercuts.
One on one
It's vital for you to sit down and meet with us, even though you are free to also use the helpful mortgage calculator tools on this website. For one thing, you will want a Pre-Qualification Letter! For another thing, we could find a different mortgage choice that fits your goals better. Let us get you started: Call us at 877-310-6200.
Have questions about pre-qualifying? Call us at 877-310-6200. Pacific Loan Brokers answers pre-qualifying questions every day.