The Importance of Pre-Qualification
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It can be helpful to visit with a mortgage loan pro early, even before you have determined what type of home to search for. What for? It might be hard to fathom the way we can help even before you start to talk about prices and negotiations.
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can fit in your budget, and the size of loan you can qualify for. We can do this by analyzing your debts and income, your work and housing circumstances, your available funds for down payment, required reserves, and other financial considerations. We ask for a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, will give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that documents the fact that we are helping you to find the right mortgage to meet your situation and that we are confident you'll qualify for a mortgage loan up to a certain amount.
After you find the house that is ideal for you, and you decide to put together an offer, being pre-qualified for a mortgage will do several things. First, you have some definite numbers in mind, as the total you will qualify for on your loan.
Of greater importance to the seller, your pre-qualification is like your having entered their house with a bag full of cash to make the deal! They won't need to be concerned they have been 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 won't be able to trust you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to be concerned about. They have a virtual guarantee to trust your buying power.
We help with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in monthly payments you can afford, and the loan amount you can qualify for. In this process, we explore your borrowing potential - analyzing your earning status, available money for down payment, debts, income, and other areas. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
One on one
While you are encouraged to benefit from our tools to calculate mortgage variables on this site, it's a good idea to meet with one of our mortgage professional team members. We can begin getting your pre-qualification letter. Then, we'll make sure we have chosen the right mortgage program for you. We're eager to hear from you: contact us at (513) 713-1515.
Have questions about pre-qualifying? Call us at (513) 713-1515. It's our job to answer pre-qualification questions, so we're happy to help!