The Importance of Pre-Qualifying
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It is valuable to visit with a mortgage loan pro early, even before you have determined what type of home you hope to find. What for? How can we help you if you haven't made your offer, and don't know yet the amount you want to borrow?
We Can Help You Pre-Qualify
We can help you see how much of a mortgage you can afford, and how much money you may be able to borrow, by walking you through pre-qualifying. We can do this by analyzing your income and debts, your employment and housing situations, the available funds for a down payment, required reserves, and some other things. It's quick and to the point; We keep the paperwork to a minimum.
At the point you are considered eligible, we prove our confidence in your capacity to qualify for a loan by giving you a Pre-Qualification Letter (also called a "pre-qual").
After you locate a house that is best for you, and you decide to make an offer, being pre-qualified for a mortgage will do several things. First, it helps you know how much you are able to offer.
Even more important to the present owner, your pre-qualification status gives them certainty - as if you had come into their home with a bag of cash to back up the offer! They won't need to wonder if they are wasting their time if you do not be able 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 mortgage in the amount you will need.Your qualifying for the necessary loan amount won't be something for them to lose sleep over. You have the sway of a buyer ready to make the purchase on the spot!
We can help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and how much we of a loan you can qualify for. The process walks you through your financial situation - your debts, income, job, cash available for down payment, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
While you can try our tools to calculate mortgage variables on this site, it's essential to meet with us. That way, we'll be able to help you get your pre-qualification letter. For another thing, we may be able to find a different mortgage choice that is a better fit for you. Contact us at (860) 658-7100 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (860) 658-7100. Ward Kilduff Mortgage answers pre-qualifying questions every day.