The Importance of Pre-Qualifying
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Even if you haven't so much as researched houses to view yet, it can be advantageous to see your mortgage professional first. Why? What can we do for you before you have made an offer, and do not yet know the amount you want to borrow?
We can help you find out the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. We can accomplish this by reviewing your debts and income, your work and residence situations, the available funds for down payment, required reserves, and other considerations. It is a short, thorough process with minimal risks for papercuts.
We give you a Pre-Qualification Letter when you qualify, which says that we are confident you can qualify for a predetermined amount of mortgage dollars.
With your pre-qualification letter, a number of advantages are yours when you locate the home you want to make an offer for. First of all, you have some general numbers in mind, as the total you will qualify for with your mortgage loan.
Being pre-qualified also will make your offer more attractive to the seller, as if you were bringing them a bag full of cash! They need not be concerned they are wasting their time if you don't be able to qualify for a high enough mortgage. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your buying power.
We can help you pre-qualify
We can help you calculate how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. We do this by analyzing your debts and income, your employment and residence situations, your funds available for down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
You can certainly use the mortgage calculators available on this site to get an idea of how much mortgage you can afford - but it's also important to meet with one of our mortgage professionals. We can work toward your pre-qualification letter. For another thing, we could locate a different mortgage option that is a better fit for you. We're eager to meet with you: call us at (303) 228-2254.
Have questions about pre-qualifying? Call us at (303) 228-2254. Firelight Mortgage Consultants answers pre-qualifying questions every day.