Why Pre-Qualification is Important
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It can be important to visit with a mortgage professional first, even if you haven't decided the kind of home to search for. Why? It might be difficult to understand the way we can help even before you start to calculate your offer.
We can help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. In this process, we look at your capacity to borrow - reviewing your employment, money available for down payment, existing debt, income, and other circumstances. It's short and basic; We take pride in keeping the paperwork to a minimum.
When you are considered eligible, we will prove our confidence in your potential to qualify for a loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Once you find the house that is right for you, and you want to put together an offer, being pre-qualified for a mortgage will do a number of things. The first is that you can know the amount you will be able to afford when calculating your offer.
Even more important to the seller of the home, your pre-qualification letter gives them certainty - as if you'd arrived at their home with a suitcase of cash to back up the offer! They won't need to worry that they have been wasting their time if you will not have the ability to qualify for a big enough mortgage. The seller of the home won't worry if he can trust you to qualify for your loan.Your qualifying for the necessary loan amount will not be something for them to fret over. You have the ability to back your offer up.
We help with your pre-qualification
We can help you determine the loan amount you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. We do this by analyzing your income and debts, your employment and housing circumstances, the available funds for down payment, required reserves, and other considerations. It is a quick, thorough process with minimal risks for papercuts.
While you are able to benefit from our mortgage calculators on our website, it's a good idea to sit down and talk with one of our mortgage professional team members. We can walk you through your pre-qualification letter. Next, we can study your loan choices and be sure you have found the best one. We're waiting to hear from you: call us at (509) 892-9014.
Have questions about pre-qualifying? Call us at (509) 892-9014. It's our job to answer pre-qualification questions, so we're happy to help!