When to Speak to a Mortgage Pro About Pre-Qualification
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It's valuable to consult your mortgage loan professional early — even before you have begun researching neighborhoods. What for? How can we help you if you have not negotiated an amount, and do not know yet how much you need to borrow?
Our mortgage professionals can help you determine the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. We can do this by considering your debts and income, your employment and residence circumstances, your available funds for a down payment, required reserves, and some other things. It's short and to the point; We take pride in keeping the paperwork to a minimum.
When you are considered eligible, we prove our confidence in your capacity to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
After you locate the house that is ideal for you, and you want to put together an offer, being pre-qualified for a loan will do several things. First of all, you have some general numbers in mind, as the amount you will be able to borrow.
Being pre-qualified can also make your offer look even better to the seller, like you were bringing them a bag full of cash! They won't need to be concerned they have been wasting their time if you can't be able to qualify for a big enough mortgage. The seller of the home won't worry if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't be something for them to worry about. You can have the influence of a buyer ready to make the deal right now!
We can help you pre-qualify
We can help you find out the loan amount you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. The process outlines your financial situation - your debt, income, employment, cash available for down payment, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
One on one
You can always use the mortgage calculators on our website to get an idea of how much mortgage you will be able to afford - but it's also important to talk with one of our mortgage professionals. That way, we'll be able to help you get your pre-qualification letter. For another thing, we could locate a different mortgage choice that is a better fit for you. We are waiting to meet with you: call us at 703.255-5810.
Have questions about pre-qualifying? Call us at 703.255-5810. We answer pre-qualification questions every day.