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Even if you've not narrowed down houses to visit yet, it is important to see your mortgage pro early. Why? When you do not yet know how much house you want to qualify for, what could we help you with?
We Can Help You Pre-Qualify
We will help you calculate how much of a mortgage you can afford, and how much money you can borrow, by walking you through the pre-qualification process. We can do this by considering your debts and income, your work and residence situations, your funds available for down payment, required reserves, and other considerations. It's quick and basic; We take pride in keeping the paperwork to a minimum.
Once you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are partnering with you to find the best loan to fit your situation 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 put together an offer, being pre-qualified for a loan will do a number of things. First of all, you have some concrete numbers in mind, as the total you will be able to borrow.
Even more important to the seller of the home, your pre-qualification gives them confidence - as if you had entered their home with a bag of cash to back up the offer! They won't need to worry that that they are wasting their time if you will not have the ability 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 mortgage in the amount you will need.Your qualifying for your needed loan amount won't be something for them to fret over. They have a virtual guarantee to trust your buying power.
We help with your pre-qualification
We can help you calculate how much of a mortgage you can afford, and how much money you can borrow, by walking you through pre-qualifying. The process outlines your finances - your debt, income, employment, cash available for down payment, among other things. It's short and basic; and we take pride in keeping the paperwork light.
Face to Face
You can certainly use the mortgage calculators here on our website to get an idea of how much mortgage you'll be able to afford - but it's also valuable to talk with one of our mortgage professionals. For one thing, you'll need a Pre-Qualification Letter! Then, we can make sure we have found the best mortgage loan program for you. We are waiting to meet with you: contact us at (860) 658-7100.
Have questions about pre-qualifying? Call us at (860) 658-7100. Ward Kilduff Mortgage answers pre-qualifying questions every day.