When to Speak to Your Mortgage Pro About Pre-Qualifying

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Even if you haven't researched houses to view yet, it can be important to contact your mortgage professional first. What for? When you do not know yet how much house you need to qualify for, what can we help you with?

Pre-Qualify

When we pre-qualify you, we help you determine how much of a monthly payment you can afford, and how much we of a loan you can qualify for. The process leads you through your current financial situation - your debt, income, job, and down payment money, among other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.

Once you qualify, will present to you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are helping you to find the ideal mortgage to meet your situation and that we are confident you'll qualify for a loan for a specific amount.

Pre-Qual Power

Holding your pre-qualification letter, some advantages fall at your feet when you find the house you want to put together an offer for. First, it helps you know how much you're able to offer. Of greater importance to the home seller, your being pre-qualified is like your having entered their front door with a bag full of money to purchase their house! They won't need to be concerned that they're wasting their time if you will not have the ability to qualify for a big enough mortgage. The seller of the home won't wonder if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not be something for them to be concerned about. You have the capability to back your offer up.

We can help you pre-qualify

Our mortgage professionals can help you calculate the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. During the process, we calculate your borrowing power - looking at your earning status, money available for down payment, debts, income, and other circumstances. It's a short, thorough process with minimal risks for papercuts.

Face to Face

You can always use the mortgage calculators on our website to get an idea of how much mortgage you can afford - but it's also valuable to talk with us. That way, we'll be able to help you get your pre-qualification letter. For another thing, we might be able to locate a different mortgage loan option that fits your goals better. We are eager to hear from you: contact us at (860) 658-7100.

Have questions about pre-qualifying? Call us at (860) 658-7100. We answer pre-qualification questions every day.

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