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It's valuable to visit with a mortgage professional early, even if you haven't settled on what sort of home to search for. Why? What can we do for you if you have not made an offer, and do not yet know the amount you want to borrow?
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and the loan amount you can qualify for. The process outlines your finances - your debts, income, career, and down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.
We award you a Pre-Qualification Letter if you qualify, that says that we're confident you'll qualify for a specific amount of mortgage dollars.
Armed with your pre-qualification letter, some advantages are yours at the point you locate the home you want to put together an offer on. The first is that you can know what you can afford when calculating the offer. Your pre-qualification also will make your offer look even better to the home seller, as if you were bringing them a big box of cash! They will not need to wonder if they are wasting their time if you will not be able to qualify for a high enough mortgage. The seller won't worry if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount will not cause them concern. You have the capability to back up your offer.
We can help you pre-qualify
We will help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. During the process, we determine your borrowing capacity - reviewing your employment, available money for down payment, debts, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
Face to Face
You can certainly use the calculators here on this website to calculate how much mortgage you'll be able to afford - but it's also essential to meet with one of our mortgage professionals. For one thing, you'll need a Pre-Qualification Letter! For another thing, we might be able to find a different mortgage option that is a better fit for you. Contact us at (414) 350-5834 to get your pre-qualification process started.
Have questions about pre-qualifying? Call me at (414) 350-5834. Assured Mortgage answers pre-qualifying questions every day.