Why it's Important to Pre-Qualify
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Even if you have not picked out homes to visit yet, it is valuable to visit with your mortgage loan professional early. What for? It may be difficult to fathom the ways in which we can help even before you begin to talk about prices and negotiations.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can fit in your budget, and the loan amount you will qualify for. This process walks you through your finances - your debt, income, career, and down payment money, among other things. It's short and basic; We keep the paperwork to a minimum.
After you are determined to be eligible, we prove our confidence in your ability to qualify for a loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Armed with your pre-qualification letter, several advantages are yours at the point you locate the home you want to make an offer on. First of all, you have some general numbers in mind, as the total you will be able to borrow.
Even more important to the existing owner, your pre-qualification gives them confidence - as if you'd entered their house with a big box of cash to back up the offer! They will not need to wonder if that they have been wasting their time if you will not be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage 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
Our mortgage professionals can help you calculate how much of a loan you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. In this process, we calculate your borrowing power - reviewing your earning status, money available for down payment, debts, income, and other circumstances. We as for a minimum amount of paperwork, and avoid a lengthy process.
One on one
It is important for you to sit down and talk with us, even though you are welcome to also use the helpful mortgage loan calculator tools on our site. That way, we will help you get your pre-qualification letter. Then, we can make sure we have the right mortgage program for you. Contact us at 720-598-8300 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 720-598-8300. Foxfield Financial answers pre-qualifying questions every day.