The Importance of Pre-Qualification
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It's helpful to consult your mortgage loan professional early — even before you've started to research neighborhoods. What for? Maybe it is hard to fathom the ways in which we could help even before you begin to calculate your offer.
When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the size of loan you will qualify for. During this process, we look at your borrowing potential - looking at your employment, available money for down payment, debt, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.
We'll give you a Pre-Qualification Letter after you qualify, that says that we're confident you'll qualify for up to a specific amount of mortgage loan dollars.
Power in the Pre-Qual
Some beneifits open to you once you find your dream house, and have achieved pre-qualification. The first is that you can know the amount you can afford when determining the offer.
More important to the seller, your pre-qualification is like your having entered their house with a suitcase full of money to make the deal! They won't need to be concerned that they have been wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller won't worry if he can trust 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 have the capability to back your offer up.
We help with your pre-qualification
We will help determine how much of a mortgage you can afford, and the amount of money you will be able to borrow, by walking you through the pre-qualification process. During this process, we calculate your borrowing potential - analyzing your employment, money available for down payment, existing debt, income, and other circumstances. We will ask for a minimum amount of paperwork, with a short, basic process.
Face to Face
You can always use the calculators on this website to calculate the size mortgage you will be able to afford - but it's also valuable to talk with one of our mortgage professionals. We can begin getting your pre-qualification letter. For another thing, we could find a different mortgage program that fits your needs better. Let us help you get started: Contact us at (718) 639-9500.
Have questions about pre-qualifying? Call us at (718) 639-9500. Channel Mortgage LLC answers pre-qualifying questions every day.