The Importance of Pre-Qualifying
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Even if you have not so much as researched homes to visit yet, it's advantageous to visit with your mortgage professional early. What for? Maybe it is hard to understand how we can help even before you begin to negotiate.
We can help you calculate how much of a mortgage loan you can afford, and how much money you will be able to borrow, by taking you through the pre-qualification process. We do this by considering your income and debts, your work and residence situations, your available funds for a down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, with a short,basic process.
When you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which documents the fact that we are helping you to find the right loan to fit your needs and that we are confident you'll qualify for a loan up to a specific amount.
A number of benefits open to you when you have found your dream house, and have pre-qualification. First of all, you have some general numbers in mind, as the total you will qualify for on your mortgage.
More important to the current home owner, your pre-qualification is like your having entered their house with a suitcase full of money ready to make the deal! They need not be concerned they're wasting their time if you don't be able to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed 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 will help you with your pre-qualification
We will help you determine the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. We will do this by considering your income and debts, your work and residence situations, your funds available for a down payment, required reserves, and some other things. It's short and to the point; and we take pride in keeping the paperwork light.
Face to Face
It's important for you to sit down and meet with us, even though you are welcome to also utilize the helpful mortgage calculators on our site. For one thing, you'll need a Pre-Qualification Letter! Then, we can make sure we have selected the right mortgage program for your situation. Contact us at (760) 415-7982 to get started.
Have questions about pre-qualifying? Call us at (760) 415-7982. It's our job to answer pre-qualification questions, so we're happy to help!