Why it's Important to Pre-Qualify
|Shopping for a mortgage? We can help! Give us a call at 757-873-1287. Ready to begin? Apply Now.|
It is important to visit with a mortgage loan pro first, even before you've determined what sort of house to look for. What for? When you do not know yet how much home you want to qualify for, how can we help?
We will help you see how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. The process walks you through your finances - your debt, income, job, and cash available for down payment, among other things. We will require a minimum amount of paperwork, with a quick process.
At the point you are determined to be eligible, we will prove our confidence in your ability to qualify for a mortgage by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
When you locate the house that meets your needs, and you want to make an offer, being pre-qualified for a loan will do several things. First, it lets you know how much you can offer. Even more important to the seller of the home, your pre-qualification status gives them confidence - as if you had come to their home with a big box of cash to make the offer! They won't need to be concerned that they have been wasting their time if you do not have the ability to qualify for a high enough mortgage loan. The seller won't be concerned that he can't trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't cause them concern. They have a virtual guarantee that they can trust your buying power.
We will help you pre-qualify
When we pre-qualify you, we help you find out the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you can qualify for. In the process, we calculate your borrowing power - reviewing your job, money available for down payment, debt, income, and other areas. We as for a minimum amount of paperwork, and avoid a lengthy process.
You can always use the mortgage calculators here on this site to calculate how much mortgage you will be able to afford - but it's also valuable to talk with us. For one thing, you'll want a Pre-Qualification Letter! Then, we will make sure we have the best mortgage loan program for you. Contact us at 757-873-1287 to get your pre-qualification process started.