The Importance of Pre-Qualifying
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It's important to visit with a mortgage loan pro early, even before you have determined what type of house you hope to find. Why? When you don't know yet how much house you need to qualify for, how can we help?
We Can Help You Pre-Qualify
Our mortgage professionals can help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. This process takes you through your current financial situation - your debt, income, employment, and cash available for down payment, among other things. It's short and to the point; We take pride in keeping the paperwork to a minimum.
Once you are considered eligible, we will prove our confidence in your capacity to qualify for a mortgage by giving you a Pre-Qualification Letter (also known as a "pre-qual").
Armed with your pre-qualification letter, several advantages fall at your feet when you locate the house you want to make an offer for. The first is that you will be sure the amount you'll be able to afford when putting together the offer.
Even more important to the seller, your pre-qualification gives them certainty - as if you had arrived at their home with a big box of cash to make the offer! They will not have to be concerned they have been wasting their time if you do not have the ability to qualify for a high enough mortgage. 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 will need.Your qualifying for the necessary mortgage loan amount won't be something for them to be concerned about. You have the influence of a buyer ready to make the purchase on the spot!
We will help you with your pre-qualification
When we pre-qualify you, we help you decide the amount you can afford in monthly payments you can afford, and the loan amount you will qualify for. This process outlines your finances - your debts, income, job, down payment money, among other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can certainly use the mortgage calculators available on our site to calculate how much mortgage you will be able to afford - but it's also essential to meet with us. We can work toward your pre-qualification letter. Next, we can review your mortgage program options and make sure you have found the right one. Let us help you get started: Contact us at (281) 778-0805.
Have questions about pre-qualifying? Call us at (281) 778-0805. 1st Credential Mortgage Inc answers pre-qualifying questions every day.