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It is valuable to see a mortgage loan pro first, even before you have decided the kind of home to look for. What for? When you don't know yet how much home you need to qualify for, how can we help?
We Will Help You Pre-Qualify
We can help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. During this process, we calculate your borrowing potential - looking at your employment, available money for down payment, debt, income, and other areas. We require a minimum amount of paperwork, with a quick process.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which documents the fact that we are partnering with you to find the right loan to meet your needs and that we're confident you'll qualify for a loan for up to a certain amount.
Once you find the house that is right for you, and you want to make an offer, being pre-qualified for a loan will do several things. First, you have some concrete numbers in mind, as the total you can borrow.
Even more important to the seller, your pre-qualification status gives them confidence - as if you'd arrived at their home with a big box of cash to back up the offer! They need not wonder if that they are wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. You can have the clout of a buyer ready to make the deal right now!
We will help you pre-qualify
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. In this process, we explore your borrowing capacity - looking at your earning status, money available for down payment, existing debt, income, and other areas. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
While you are encouraged to use our tools to calculate mortgage variables on our website, it's essential to sit down and talk with us. That way, we'll help you get your pre-qualification letter. For another thing, we might locate a different mortgage option that fits your situation better. Contact us at (718) 639-9500 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (718) 639-9500. We answer pre-qualification questions every day.