When to Speak to a Mortgage Professional
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It's helpful to consult your mortgage professional early — even before you've started to research neighborhoods. Why? It may be hard to understand the way we could help even before you begin to talk about prices and negotiations.
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and how much we of a loan you will qualify for. We can achieve this by reviewing your income and debts, your employment and housing situations, the funds available for down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, with a quick process.
We award you a Pre-Qualification Letter when you qualify, which says that we are confident you can qualify for up to a specific amount of mortgage dollars.
Several advantages open to you after you find your new house, and have achieved pre-qualification. First, it lets you know the amount that you are able to offer.
Even more important to the seller of the house, your pre-qualification letter gives them confidence - as if you had come into their home with a bag of cash to make the offer! They won't need to worry that they're wasting their time if you do not have the ability to qualify for a high enough mortgage loan. The seller of the home won't worry if he can count on you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You have the sway of a buyer ready to make the purchase on the spot!
We will help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can fit in your budget, and the loan amount you will qualify for. We do this by analyzing your debts and income, your work and residence circumstances, your funds available for a down payment, required reserves, and other considerations. It's short and to the point; and we take pride in keeping the paperwork to a minimum.
While you are able to try our tools to calculate mortgage variables on our website, it will be a good idea to meet with us. That way, we will be able to help you get your pre-qualification letter. For another thing, we might locate a different mortgage program that fits your situation better. Let us get you started: Call us at 720-598-8300.
Have questions about pre-qualifying? Call us at 720-598-8300. We answer pre-qualification questions every day.