Why Pre-Qualification is Important
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Even if you've not so much as narrowed down homes to view yet, it's important to visit with your mortgage pro early. Why? When you do not know yet how much home you want to qualify for, how could we help?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you determine the amount in monthly mortgage payments you can afford, and the loan amount you will qualify for. We do this by reviewing your income and debts, your employment and residence situations, your funds available for a down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.
After you are determined to be eligible, we will prove our confidence in your ability to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Armed with your pre-qualification letter, a number of advantages are yours once you locate the home you want to put together an offer on. The first is that you'll be sure the amount you will be able to afford when determining the offer.
More important to the home seller, your being pre-qualified is like your having walked into their house with a bag full of money to purchase the house! They won't have to worry that they have been wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to be concerned about. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can fit in your budget, and how much we of a loan you can qualify for. We accomplish this by reviewing your debts and income, your employment and residence situations, your funds available for a down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
It's important to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage calculators on this site. We can work toward your pre-qualification letter. Next, we can study your loan options to be sure you have selected the best one. Contact us at 720-598-8300 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 720-598-8300. It's our job to answer pre-qualification questions, so we're happy to help!