Why Pre-Qualification is Important
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It's helpful to see a mortgage loan pro first, even if you haven't settled on the kind of house to look for. Why? It may be difficult to understand the ways in which we can help even before you start to calculate your offer.
We will help you find out the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We can accomplish this by reviewing your debts and income, your work and residence circumstances, the available funds for down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
We award you a Pre-Qualification Letter once you qualify, which says that we are confident you can qualify for up to a predetermined amount of mortgage loan dollars.
Various advantages open to you once you've found your next house, and have pre-qualification. First, you have some concrete numbers in mind, as the amount you will qualify for on your mortgage loan. Your pre-qualification also will make your offer more attractive to the home seller, like you were bringing them a big box of cash! They need not wonder if that they're wasting their time if you do not have the ability to qualify for a big enough mortgage loan. The seller won't worry if he can count on you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to fret over. You have the clout of a buyer ready to make the deal on the spot!
We will help you with your pre-qualification
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 the process, we look at your capacity to borrow - analyzing your earning status, available money for down payment, existing debt, income, and other areas. We as for a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
It's important for you to sit down and talk with us, even though you are free to also use the helpful mortgage loan calculators on this site. For one thing, you'll need a Pre-Qualification Letter! Next, we can review your mortgage options and make sure you have found the right one. Contact us at (760) 337-8100 to get started.