When to Talk to a Mortgage Pro About Pre-Qualifying
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It's helpful to visit with a mortgage professional first, even before you have decided what type of house to look for. What for? When you don't know yet how much home you want to qualify for, what can we do for you?
Our mortgage professionals can help you determine the loan amount you can qualify for and the mortgage payment amount you can afford by getting you pre-qualified. This process leads you through your current financial situation - your debt, income, employment, and cash available for down payment, among other things. We will require a minimum amount of paperwork, with a quick process.
When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which documents the fact that we are partnering with you to find the right loan program to meet your needs and that we are confident you'll qualify for a mortgage for a specific amount.
Power in the Pre-Qual
After you locate the house that is right for you, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. The first is that you'll know the amount you'll be able to afford when putting together your offer.
Being pre-qualified can also make your offer more attractive to the seller, as if you were bringing them a suitcase full of cash! They won't need to be concerned that they're wasting their time if you won't be able to be able to qualify for a big enough mortgage. 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 the necessary loan amount won't cause them concern. They have a virtual guarantee to trust your buying power.
We will help you with your pre-qualification
We will help you find out how much of a loan you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. We can achieve this by analyzing your income and debts, your work and residence circumstances, the available funds for a down payment, required reserves, and other considerations. We as for a minimum amount of paperwork, and avoid a lengthy process.
It is important to sit down and talk with us, even though you are free to also utilize the helpful mortgage calculators on our site. For one thing, you'll need a Pre-Qualification Letter! Next, we can study your mortgage choices to make sure you are in the best one. Contact us at 727-392-4227 to get started.
Have questions about pre-qualifying? Call us at 727-392-4227. Twenty First Century Mortgage Services, Inc. answers pre-qualifying questions every day.