Why it's Important to Pre-Qualify
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It's valuable to visit with a mortgage professional early, even before you have determined what sort of house to look for. What for? If you don't yet know how much house you need to qualify for, what can we help you with?
Our mortgage professionals can help you calculate the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. This process outlines your finances - your debt, income, employment, and cash available for down payment, among other things. It's quick and to the point; We keep the paperwork to a minimum.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that documents the fact that we are partnering with you to find the best loan to fit your financial needs and that we are confident you'll qualify for a loan for up to a certain amount.
Power in the Pre-Qual
Some advantages open to you after you've found your new house, and have achieved pre-qualification power. First, it helps you know the amount that you can offer.
Of greater importance to the existing home owner, your pre-qualification is like your having entered their front door with a bag full of money ready to make the deal! They will not need to be concerned that they are wasting their time if you will not have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount will not be something for them to lose sleep over. You'll have the influence of a buyer ready to make the deal on the spot!
We can help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly payment you can fit in your budget, and the size of loan you can qualify for. We accomplish this by reviewing your income and debts, your employment and housing circumstances, the funds available for down payment, required reserves, and other considerations. We require a minimum amount of paperwork, with a quick process.
One on one
You can always use the mortgage calculators on this site to calculate how much mortgage you'll be able to afford - but it's also essential to meet with one of our mortgage professionals. That way, we will help you get your pre-qualification letter. For another thing, we may be able to locate a different mortgage option that is a better fit for you. We're waiting to meet with you: contact us at 352-347-3303.
Have questions about pre-qualifying? Call us at 352-347-3303. Mortgage Xperts answers pre-qualifying questions every day.