Why it's Important to Pre-Qualify
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Even if you haven't so much as picked out homes to view yet, it's advantageous to contact your mortgage professional early. What for? Perhaps it's hard to fathom how we can help even before you begin to talk about prices and negotiations.
We will help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. During the process, we explore your borrowing capacity - analyzing your earning status, money available for down payment, existing debt, income, and other circumstances. It is a short, thorough process with minimal risks for papercuts.
We will give you a Pre-Qualification Letter if you qualify, which states that we're confident you can qualify for a certain amount of mortgage loan dollars.
Some beneifits open to you once you find your dream house, and have achieved pre-qualification power. The first is that you'll know the amount you can afford when calculating your offer.
Of greater importance to the home seller, your pre-qualification is like your having walked into their house with a bag full of cash ready to make the deal! They need not be concerned they are wasting their time if you won't be able to have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to lose sleep over. You can have the clout of a buyer ready to make the deal right now!
We can help you pre-qualify
When we pre-qualify you, we help you decide the amount you can afford in monthly payments you can fit in your budget, and the size of loan you can qualify for. We achieve this by considering your income and debts, your employment and residence situations, the available funds for down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
You can always use the calculators available on this site to get an idea of how much mortgage you can afford - but it's also important to meet with one of our mortgage professionals. For one thing, you will want a Pre-Qualification Letter! Next, we can review your mortgage options to make sure you are in the best one. We are waiting to meet with you: 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.