When to Speak to a Mortgage Professional About Pre-Qualification
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Even if you haven't so much as picked out homes to view yet, it is important to visit with your mortgage loan professional first. What for? How can we help before you have made an offer, and do not yet know the amount you need to borrow?
We can help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. In this process, we determine your ability to borrow - analyzing your employment, money available for down payment, debt, income, and other areas. It's short and to the point; We take pride in keeping the paperwork light.
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 ideal mortgage to fit your needs and that we are confident you'll qualify for a mortgage loan for up to a certain amount.
Power in the Pre-Qual
Armed with your pre-qualification letter, several advantages fall at your feet at the point you locate the house you want to put together an offer on. First, you have some general numbers in mind, as the total you will be able to borrow. More important to the current home owner, your pre-qualification is like your having walked into their house with a bag full of cash to purchase their house! They will not have to be concerned they are wasting their time if you can't have the ability to qualify for a high enough mortgage loan. The seller won't wonder if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount will not cause them concern. You will have the influence of a buyer ready to make the purchase on the spot!
We will help you with your pre-qualification
We will help you calculate how much of a mortgage you can afford, and the amount of money you will be able to borrow, by walking you through pre-qualifying. In this process, we determine your borrowing potential - looking at your job, available money for down payment, existing debt, income, and other circumstances. It's short and to the point; and we keep the paperwork to a minimum.
One on one
It's vital to sit down and meet with us, even though you are free to also use the helpful mortgage loan calculators on this website. That way, we'll help you get your pre-qualification letter. Then, we'll make sure we have the ideal mortgage program for you. Let us get you started: Contact us at (504) 888-3858.
Have questions about pre-qualifying? Call us at (504) 888-3858. It's our job to answer pre-qualification questions, so we're happy to help!