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Even if you have not narrowed down houses to view yet, it's important to see your mortgage professional early. Why? How can we help you if you haven't negotiated an amount, and don't know yet the amount you need to borrow?
We Will Help You Pre-Qualify
We will help you calculate how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through the pre-qualification process. This process takes you through your current financial situation - your debts, income, career, and down payment money, among other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
After you are determined to be eligible, we document our confidence in your potential to qualify for a mortgage by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Several advantages open to you once you have found your next house, and have achieved pre-qualification power. The first is that you can know what you'll be able to afford when calculating the offer.
Even more important to the current owner, your pre-qualification gives them certainty - as if you'd come to their home with a big box of cash to back up the offer! They won't have to be concerned they're wasting their time if you won't be able to be able to qualify for a high enough mortgage loan. The seller of the home won't wonder if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We will help you pre-qualify
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 achieve this by analyzing your income and debts, your employment and housing situations, 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.
One on one
It's important to sit down and meet with us, even though you are free to also try the helpful mortgage loan calculators on our site. For one thing, you will want a Pre-Qualification Letter! Next, we can consider your loan options to make sure you are in the best one. We're waiting to hear from you: call us at 720-598-8300.
Have questions about pre-qualifying? Call us at 720-598-8300. Foxfield Financial answers pre-qualifying questions every day.