When to Speak to Your Mortgage Pro About Pre-Qualifying
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Even if you have not so much as researched houses to view yet, it can be advantageous to contact your mortgage pro first. Why? When you don't yet know how much house you need to qualify for, how could we help?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can afford, and the loan amount you will qualify for. During this process, we explore your borrowing power - reviewing your employment, money available for down payment, debt, income, and other circumstances. It's quick and to the point; We take pride in keeping the paperwork light.
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"), that documents the fact that we are working with you to find the ideal mortgage to fit your situation and that we are confident you will qualify for a mortgage for a specific amount.
After you locate a house that is best for you, and you decide to put together an offer, being pre-qualified for a mortgage will do a couple of things. First, it helps you know the amount that you're able to offer.
Your pre-qualification also will make your offer more attractive to the home seller, like you were bringing them a bag full of cash! They won't need to wonder if 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 worry if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not cause them concern. They have a virtual guarantee to trust your ability 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 fit in your budget, and the size of loan you can qualify for. In the process, we determine your ability to borrow - analyzing your job, money available for down payment, existing debt, income, and other areas. It's a short, thorough process with minimal risks for papercuts.
One on one
It is important for you to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage calculator tools on our website. That way, we will help you get your pre-qualification letter. Next, we can study your mortgage choices and make sure you are in the right one. Contact us at 469-640-0400 to get started.
Have questions about pre-qualifying? Call us at 469-640-0400. Capacity Lending, LLC answers pre-qualifying questions every day.