Why Pre-Qualification is Important

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It's important to bring in your mortgage professional early — even before you have started to consider neighborhoods. Why? What can we do for you before you have negotiated a purchase amount, and don't yet know how much you need to borrow?

We Will Help You Pre-Qualify

When we pre-qualify you, we help you decide the amount in monthly mortgage payments you can afford, and the loan amount you will qualify for. We will achieve this by analyzing your income and debts, your employment and residence circumstances, your funds available for down payment, required reserves, and other financial considerations. It's quick and basic; We take pride in keeping the paperwork light.

After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which says that we are helping you to find the best loan program to fit your financial needs and that we're confident you will qualify for a loan for up to a certain amount.

Power in the Pre-Qual

Some beneifits open to you once you've found your next house, and have pre-qualification power. First, it helps you know the amount that you can offer. Even more important to the seller of the home, your pre-qualification gives them confidence - as if you'd arrived at their home with a bag of cash to make the offer! They will not need to be concerned they're 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 wonder if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not be something for them to be concerned about. They have a virtual guarantee that they can trust your buying power.

We will help you with your pre-qualification

When we pre-qualify you, we help you find out the amount you can afford in monthly payments you can fit in your budget, and how much we of a loan you will qualify for. In the process, we look at your ability to borrow - reviewing your employment, available money for down payment, existing debt, income, and other areas. It's short and to the point; and we keep the paperwork to a minimum.

Face to Face

You can certainly use the calculators on our site to get an idea of how much mortgage you'll be able to afford - but it's also essential to meet with one of our mortgage professionals. We can begin working on your pre-qualification letter. For another thing, we might be able to find a different mortgage option that is a better fit 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. We answer pre-qualification questions every day.

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