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Even if you have not so much as researched houses to visit yet, it's important to contact your mortgage loan professional early. Why? What can we do for you before you have made an offer, and do not know yet the amount you want to borrow?
When we pre-qualify you, we help you decide the amount in monthly payments you can afford, and the loan amount you will qualify for. The process outlines your current financial situation - your debt, income, career, and down payment money, among other things. We ask for a minimum amount of paperwork, with a short,basic process.
After you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are working with you to find the right loan to fit your needs and that we are confident you'll qualify for a loan up to a specific amount.
With your pre-qualification letter, several advantages are yours once you find the house you want to make an offer for. The first is that you can know the amount you'll be able to afford when calculating the offer.
Being pre-qualified also will make your offer look even better to the home seller, like you were bringing them a suitcase full of cash! They won't need to be concerned they're wasting their time if you do not be able to qualify for a high enough mortgage loan. The seller won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not be something for them to lose sleep over. They have a virtual guarantee to trust your buying power.
We can help you pre-qualify
When we pre-qualify you, we help you decide the amount you can afford in mortgage payments you can fit in your budget, and the loan amount you will qualify for. We can accomplish this by reviewing your debts and income, your employment and residence circumstances, the funds available for a down payment, required reserves, and some other things. We as for a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you can use our mortgage calculators on our site, it's a good idea to meet with one of our mortgage professional team members. For one thing, you will need a Pre-Qualification Letter! Then, we can make sure we have chosen the ideal mortgage program for you. Let us help you get started: Contact us at (303) 228-2254.
Have questions about pre-qualifying? Call us at (303) 228-2254. We answer pre-qualification questions every day.