When to Talk to a Mortgage Pro About Pre-Qualification
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It is important to see a mortgage professional early, even if you haven't settled on what type of home to search for. What for? Maybe it is hard to fathom how we can help even before you start to calculate your offer.
When we pre-qualify you, we help you decide the amount in mortgage payments you can fit in your budget, and the loan amount you will qualify for. In this process, we look at your borrowing potential - looking at your employment, available money for down payment, existing debt, income, and other areas. We will require a minimum amount of paperwork, and avoid a lengthy process.
We'll give you a Pre-Qualification Letter once you qualify, that states that we are confident you will qualify for a predetermined amount of mortgage dollars.
Some advantages open to you when you find your dream house, and have pre-qualification power. The first is that you'll know the amount you'll be able to afford when determining your offer.
Of greater importance to the seller, your being pre-qualified is like your having walked into their house with a bag full of money to purchase the house! They won't have to wonder if that they are 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 be concerned that he can't 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 worry about. You have the ability to back up your offer.
We help with your pre-qualification
When we pre-qualify you, we help you figure out the amount you can afford in monthly mortgage payments you can afford, and the size of loan you will qualify for. The process walks you through your finances - your debt, income, career, down payment money, among other things. It's quick and to the point; and we keep the paperwork light.
One on one
It's vital for you to sit down and meet with us, even though you are welcome to also try the helpful mortgage loan calculator tools on this site. That way, we'll be able to help you get your pre-qualification letter. Next, we can study your loan choices to be sure you have found the right one. We are eager to meet with you: contact us at (718) 639-9500.
Have questions about pre-qualifying? Call us at (718) 639-9500. We answer pre-qualification questions every day.