Why Pre-Qualification is Important
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Even if you haven't picked out houses to visit yet, it can be valuable to visit with your mortgage pro first. What for? How can we help you before you have negotiated a purchase amount, and do not know yet the amount you want to borrow?
We can help you see how much of a mortgage you can afford, and how much money you will be able to borrow, by taking you through pre-qualifying. We accomplish this by considering your debts and income, your employment and housing situations, your funds available for a down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
When you are considered eligible, we document our confidence in your potential to qualify for a loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
With your pre-qualification letter, some advantages are yours at the point you locate the home you want to make an offer for. First, it lets you know the amount that you're able to offer.
Of greater importance to the seller, your pre-qualification is like your having entered their house with a suitcase full of money to purchase their home! They won't need to wonder if that they're wasting their time if you won't be able to have the ability to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. You have the ability to back your offer up.
We help with your pre-qualification
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 walking you through pre-qualifying. We achieve this by reviewing your income and debts, your employment and housing circumstances, your available funds for a down payment, required reserves, and some other things. It's short and basic; and we keep the paperwork light.
Face to Face
You can always use the calculators on this site to get an idea of how much mortgage you can afford - but it's also essential to meet with us. We can walk you through your pre-qualification letter. Next, we can study your loan choices and make sure you have selected the right one. Contact us at (720) 550-4235 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (720) 550-4235. We answer pre-qualification questions every day.