Why Pre-Qualification is Important
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It is valuable to bring in your mortgage professional as soon as possible — even before you have started to consider neighborhoods. Why? Perhaps it's difficult to understand how we could help even before you begin to negotiate.
We Can Help You Pre-Qualify
We can help you see how much of a mortgage loan you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. We accomplish this by analyzing your debts and income, your employment and housing circumstances, the available funds for a down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
When you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that states that we are helping you to find the best mortgage loan to fit your financial needs and that we're confident you'll qualify for a mortgage loan for up to a specific amount.
Power in the Pre-Qual
A number of advantages open to you when you've found your dream house, and have pre-qualification. First, you have some definite numbers in mind, as the amount you will qualify for with your mortgage.
Even more important to the seller of the house, your pre-qualification letter gives them confidence - as if you'd come into their house with a big box of cash to make the offer! They need not wonder if they're wasting their time if you will not be able to qualify for a big enough mortgage. The seller won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not be something for them to worry about. They have a virtual guarantee to trust your buying power.
We can help you pre-qualify
We will help you calculate how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through pre-qualifying. We do this by reviewing your debts and income, your work and residence circumstances, your funds available for a down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.
Face to Face
It's important for you to sit down and talk with us, even though you are welcome to also try the helpful mortgage calculators on our website. That way, we'll help you get your pre-qualification letter. Next, we can study your mortgage loan choices and make sure you have chosen the best one. Let us help you get started: Contact us at (718) 639-9500.
Have questions about pre-qualifying? Call us at (718) 639-9500. We answer pre-qualification questions every day.