Why Pre-Qualification is Important
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It is valuable to consult with your mortgage professional early — even before you have begun narrowing down neighborhoods. Why? If you don't yet know how much house you want to qualify for, how can we help?
Our mortgage professionals will help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. The process walks you through your current financial situation - your debt, income, career, and down payment money, among other things. It's short and to the point; We take pride in keeping the paperwork light.
When you qualify, we give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are working with you to find the best loan program to meet your financial needs and that we're confident you'll qualify for a mortgage up to a specific amount.
Once you locate a house that is ideal for you, and you want to make an offer, being pre-qualified for a loan will do several things. The first is that you will know the amount you will be able to afford when determining your offer.
Being pre-qualified will also make your offer more attractive to the home seller, as if you were bringing them a bag full of cash! They won't need to worry that they're wasting their time if you can't have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You have the ability to back your offer up.
We can help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly payment you can fit in your budget, and how much we of a loan you will qualify for. During this process, we determine your capacity to borrow - reviewing your job, available money for down payment, debt, income, and other areas. We will require a minimum amount of paperwork, and avoid a lengthy process.
You can always use the mortgage calculators available on our website to calculate the size mortgage you can afford - but it's also essential to meet with one of our mortgage professionals. That way, we'll help you get your pre-qualification letter. Then, we can make sure we have the right mortgage program for your situation. We're waiting to meet with you: contact us at (808) 935-0678.
Have questions about pre-qualifying? Call us at (808) 935-0678. We answer pre-qualification questions every day.
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