When to Speak to a Mortgage Professional
Shopping for a mortgage loan? We'll be glad to talk about our many mortgage solutions! Call us at 469-640-0400. Ready to get started? Apply Now.
Even if you've not so much as picked out homes to visit yet, it can be valuable to visit with your mortgage loan professional early. What for? It may be difficult to understand the ways we can help even before you start to negotiate.
We Will Help You Pre-Qualify
We can help you calculate how much of a mortgage you can afford, and the amount of money you will be able to borrow, by taking you through the pre-qualification process. The process outlines your current financial situation - your debts, income, job, and cash available for down payment, among other things. We will ask for a minimum amount of paperwork, with a quick process.
After you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are helping you to find the best loan program to meet your situation and that we're confident you will qualify for a mortgage for a certain amount.
When you locate the house that catches your eye, and you want to make an offer, being pre-qualified for a mortgage will do several things. First, it lets you know how much you are able to offer.
Of greater importance to the home seller, your pre-qualification is like your having entered their house with a bag full of cash ready to purchase their house! They won't need to wonder if that they have been wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to fret over. They have a virtual guarantee that they can trust your buying power.
We will help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly payment you can fit in your budget, and how much we of a loan you can qualify for. During this process, we look at your capacity to borrow - analyzing your job, available money for down payment, debts, income, and other circumstances. We will require a minimum amount of paperwork, and avoid a lengthy process.
It's important for you to sit down and talk with us, even though you are free to also try the helpful mortgage calculator tools on our website. We can work toward your pre-qualification letter. Then, we'll make sure we have the ideal mortgage program for you. Let us help you get started: Contact us at 469-640-0400.
Have questions about pre-qualifying? Call us at 469-640-0400. It's our job to answer pre-qualification questions, so we're happy to help!