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It's important to consult your mortgage professional early — even before you have begun narrowing down neighborhoods. What for? How can we help before you have negotiated a price, and do not know yet the amount you want to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you find out the amount in monthly mortgage payments you can afford, and the size of loan you can qualify for. This process walks you through your financial situation - your debt, income, job, and down payment money, among other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that states that we are partnering with you to find the right mortgage to fit your needs and that we are confident you'll qualify for a mortgage for a certain amount.
Power in the Pre-Qual
After you locate a house that catches your eye, and you want to make an offer, being pre-qualified for a mortgage will do several things. First, you have some definite numbers in mind, as the total you will qualify for with your loan.
More important to the seller, your being pre-qualified is like your having entered their house with a suitcase full of cash to purchase their home! They will not have to wonder if they're wasting their time if you don't be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. You have the influence of a buyer ready to make the purchase on the spot!
We will help you pre-qualify
We can 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 the pre-qualification process. We will accomplish this by analyzing your income and debts, your work and residence situations, the funds available for a down payment, required reserves, and some other things. We as for a minimum amount of paperwork, with a short, basic process.
It is important for you to sit down and meet with us, even though you are free to also utilize the helpful mortgage loan calculators on this website. That way, we'll help you get your pre-qualification letter. Next, we can consider your mortgage program options to make sure you are in the right one. Contact us at (805) 496-7500 to get started.
Have questions about pre-qualifying? Call us at (805) 496-7500. We answer pre-qualification questions every day.