Why it's Important to Pre-Qualify
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It's important to bring in your mortgage professional early — even before you've begun researching neighborhoods. What for? Maybe it is hard to understand the ways in which we could help even before you start to negotiate.
When we pre-qualify you, we help you determine how much of a monthly payment you can afford, and the loan amount you can qualify for. We will do this by reviewing your debts and income, your work and housing circumstances, your funds available for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, will give you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are helping you to find the ideal mortgage to meet your needs and that we are confident you'll qualify for a loan for up to a specific amount.
Power in the Pre-Qual
When you find a house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage will do several things. The first is that you will know the amount you will be able to afford when putting together your offer.
Your pre-qualification will also make your offer more attractive to the seller, like you were bringing them a big box of cash! They will not have to worry that that they're wasting their time if you do not have the ability to qualify for a big enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to lose sleep over. You will have the sway of a buyer ready to make the deal on the spot!
We can help you pre-qualify
Our mortgage professionals can help you find out how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. This process leads you through your finances - your debts, income, employment, down payment money, among other things. We require a minimum amount of paperwork, with a short, basic process.
One on one
While you are encouraged to use our tools to calculate mortgage variables on our website, it will be a good idea to meet with one of our mortgage professional team members. That way, we'll be able to help you get your pre-qualification letter. For another thing, we might find a different mortgage choice that better fits your needs. Contact us at (860) 658-7100 to get started.
Have questions about pre-qualifying? Call us at (860) 658-7100. Ward Kilduff Mortgage answers pre-qualifying questions every day.
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