Why Pre-Qualification is Important

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Even if you haven't researched houses to visit yet, it is advantageous to see your mortgage loan professional early. What for? Maybe it is difficult to understand the ways we can help even before you begin to calculate your offer.

Pre-Qualify

When we pre-qualify you, we help you find out how much of a monthly mortgage payment you can afford, and the loan amount you can qualify for. We can do this by analyzing your income and debts, your work and housing situations, your funds available for a down payment, required reserves, and some other things. It's a short, thorough process with minimal risks for papercuts.

We will give you a Pre-Qualification Letter after you qualify, that documents that we're confident you'll qualify for up to a certain amount of mortgage dollars.

Power in the Pre-Qual

Holding your pre-qualification letter, several advantages are yours at the point you find the house you want to put together an offer for. First of all, you have some concrete numbers in mind, as the amount you can borrow. Being pre-qualified also will make your offer more attractive to the seller, as if you were bringing them a suitcase of cash! They won't need to be concerned that they have been wasting their time if you do not be able to qualify for a big enough mortgage loan. The seller won't be concerned that he can't 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 ability to back up your offer.

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 loan amount you will qualify for. In this process, we calculate your borrowing power - looking at your job, available money for down payment, debts, income, and other areas. It is a short, thorough process with minimal risks for papercuts.

One on one

You can always use the calculators here on our site to get an idea of how much mortgage you can afford - but it's also important to talk with one of our mortgage professionals. For one thing, you will need a Pre-Qualification Letter! For another thing, we could locate a different mortgage program that fits your goals better. Let us get you started: Call us at 405-720-7064.

Have questions about pre-qualifying? Call us at 405-720-7064. We answer pre-qualification questions every day.