When to Talk to Your Mortgage Professional About Pre-Qualifying
Even if you've not so much as picked out houses to view yet, it's important to contact your mortgage professional early. What for? When you do not know yet how much home you need to qualify for, what can we do for you?
We Will Help You Pre-Qualify
Our mortgage professionals will help you find out how much of a loan you can qualify for and the monthly payment amount you are able to afford by getting you pre-qualified. During this process, we look at your borrowing potential - analyzing your earning status, available money for down payment, debt, income, and other areas. We ask for a minimum amount of paperwork, and avoid a lengthy process.
After you are determined to be eligible, we will prove our confidence in your capacity to qualify for a mortgage by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Power in the Pre-Qual
Armed with your pre-qualification letter, some advantages are yours once you locate the house you want to put together an offer for. The first is that you will be sure the amount you will be able to afford when determining the offer.
Of greater importance to the seller, your pre-qualification is like your having walked into their front door with a suitcase full of money to purchase their home! They need not be concerned that they're wasting their time if you do not be able to qualify for a high enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not be something for them to be concerned about. You can have the influence of a buyer ready to make the purchase on the spot!
We help with your pre-qualification
We will help you calculate how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by taking you through pre-qualifying. This process outlines your current financial situation - your debts, income, job, down payment money, among other things. It's a short, thorough process with minimal risks for papercuts.
Face to Face
It's important to sit down and meet with us, even though you are free to also use the helpful mortgage calculators on our site. We can begin getting your pre-qualification letter. Then, we'll make sure we have the right mortgage loan program for your situation. We're eager to meet with you: call us at 5208867283.
Have questions about pre-qualifying? Call us at 5208867283. Lending Arizona answers pre-qualifying questions every day.