When to Speak to Your Mortgage Pro About Pre-Qualifying
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It is important to see a mortgage loan pro first, even if you haven't decided what type of home to look for. Why? If you do not know yet how much house you need to qualify for, how can we help?
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. This process outlines your finances - your debt, income, job, and cash available for down payment, among other things. It's quick and basic; We take pride in keeping the paperwork to a minimum.
We'll award you a Pre-Qualification Letter after you qualify, that states that we're confident you'll qualify for a predetermined amount of mortgage loan dollars.
With your pre-qualification letter, several advantages are yours at the point you locate the home you want to make an offer on. First, you have some general numbers in mind, as the total you will be able to borrow. Being pre-qualified can also make your offer more attractive to the home seller, as if you were bringing them a big box of cash! They won't have to worry that that they're wasting their time if you won't be able to be able to qualify for a big enough mortgage loan. The seller won't worry if he can count on you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You can have the influence of a buyer ready to make the purchase right now!
We help with your pre-qualification
When we pre-qualify you, we help you find out the amount you can afford in monthly payments you can afford, and the size of loan you will qualify for. We achieve this by considering your income and debts, your employment and residence circumstances, your funds available for a down payment, required reserves, and some other things. It is a quick, thorough process with minimal risks for papercuts.
It's important to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage loan calculator tools on this website. For one thing, you'll want a Pre-Qualification Letter! Next, we can study your mortgage loan options and be sure you are in the best one. Contact us at 507-847-4466 to get your pre-qualification process started.