When to Talk to a Mortgage Pro About Pre-Qualification
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It is valuable to consult your mortgage loan professional as soon as possible — even before you have started to consider neighborhoods. What for? It may be difficult to fathom the way we could help even before you start to negotiate.
We Can Help You Pre-Qualify
When we pre-qualify you, we help you find out the amount in mortgage payments you can afford, and the size of loan you can qualify for. This process outlines your finances - your debt, income, employment, and cash available for down payment, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, we give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are helping you to find the best mortgage loan to meet your situation and that we are confident you will qualify for a mortgage for up to a certain amount.
Power in the Pre-Qual
With your pre-qualification letter, a number of advantages are yours at the point you find the house you want to make an offer on. First, it helps you know how much you're able to offer.
More important to the existing home owner, your being pre-qualified is like your having walked into their front door with a bag full of cash ready to purchase the home! They will not have to worry that that they are wasting their time if you will not have the ability to qualify for a big enough mortgage. The seller 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 loan amount won't cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
When we pre-qualify you, we help you find out the amount you can afford in monthly payments you can afford, and the size of loan you will qualify for. During this process, we determine your borrowing power - looking at your job, available money for down payment, existing debt, income, and other circumstances. We will require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
It's vital to sit down and talk with us, even though you are free to also try the helpful mortgage calculators on this website. For one thing, you'll need a Pre-Qualification Letter! Then, we'll make sure we have the right mortgage program for you. Let us get you started: Call us at 703.255-5810.
Have questions about pre-qualifying? Call us at 703.255-5810. We answer pre-qualification questions every day.