When to Talk to a Mortgage Professional About Pre-Qualifying
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Even if you've not so much as researched houses to view yet, it's important to contact your mortgage pro first. Why? It may be difficult to fathom how we can help even before you start to calculate your offer.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you figure out the amount in monthly payments you can afford, and how much we of a loan you can qualify for. We will accomplish this by considering your debts and income, your work and housing circumstances, your funds available for down payment, required reserves, and other considerations. It's a short, thorough process with minimal risks for papercuts.
Once 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"), which states that we are working with you to find the ideal mortgage loan program to meet your financial needs and that we're confident you will qualify for a mortgage for up to a certain amount.
Once you find the house that catches your eye, and you want to make an offer, being pre-qualified for a mortgage loan will do several things. The first is that you'll be sure what you will be able to afford when putting together the offer. Being pre-qualified also will make your offer more attractive to the seller, as if you were bringing them a suitcase full of cash! They will not have to be concerned they are wasting their time if you won't be able to be able to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't be something for them to lose sleep over. You have the capability to back your offer up.
We help with your pre-qualification
We can help you calculate how much of a mortgage you can afford, and the amount of money you may be able to borrow, by taking you through pre-qualifying. We achieve this by considering your debts and income, your work and residence situations, your available funds for down payment, required reserves, and some other things. It's quick and to the point; and we take pride in keeping the paperwork light.
Face to Face
You can always use the mortgage calculators on this website to get an idea of how much mortgage you'll be able to afford - but it's also important to meet with us. For one thing, you will want a Pre-Qualification Letter! Then, we will make sure we have chosen the ideal mortgage program for your situation. Contact us at (808) 891-9292 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (808) 891-9292. Creative Financial answers pre-qualifying questions every day.