The Importance of Pre-Qualification

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It is helpful to consult your mortgage professional early — even before you've begun narrowing down neighborhoods. What for? How can we help you before you have made an offer, and do not yet know how much you need to borrow?

Pre-Qualify

We can help you see how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through pre-qualifying. We will achieve this by reviewing your debts and income, your work and housing circumstances, the funds available for down payment, required reserves, and other financial considerations. It's short and to the point; We take pride in keeping the paperwork to a minimum.

After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which documents the fact that we are helping you to find the right mortgage to meet your needs and that we're confident you will qualify for a mortgage for up to a specific amount.

Buying Power

After you find the house that meets your needs, and you want to put together an offer, being pre-qualified for a mortgage loan will do a number of things. First, it helps you know the amount that you're able to offer. Even more important to the seller of the house, your pre-qualification gives them confidence - as if you'd come to their house with a bag of cash to make the offer! They will not have to wonder if that they have been wasting their time if you don't be able to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't cause them concern. You have the influence of a buyer ready to make the purchase on the spot!

We will help you with your pre-qualification

When we pre-qualify you, we help you decide the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. During this process, we look at your borrowing power - looking at your job, money available for down payment, existing debt, income, and other areas. It's quick and to the point; and we keep the paperwork light.

Face to Face

It is vital for you to sit down and talk with us, even though you are free to also try the helpful mortgage calculator tools on our site. That way, we will help you get your pre-qualification letter. Then, we will make sure we have chosen the best mortgage loan program for your situation. We're waiting to hear from you: call us at 7205988300.

Have questions about pre-qualifying? Call us at 7205988300. Foxfield Financial answers pre-qualifying questions every day.