Why Pre-Qualification is Important
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It's helpful to consult with your mortgage loan professional as soon as possible — even before you have started to consider neighborhoods. Why? If you do not know yet how much home you want to qualify for, what can we do for you?
We will help you see how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through the pre-qualification process. During this process, we explore your borrowing capacity - analyzing your earning status, available money for down payment, existing debt, income, and other circumstances. It's a quick, thorough process with minimal risks for papercuts.
When you are determined to be eligible, we prove our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Various advantages open to you once you have found your new house, and have achieved pre-qualification power. First, you have some definite numbers in mind, as the amount you will qualify for with your mortgage loan.
Being pre-qualified will also make your offer look even better to the home seller, like you were bringing them a suitcase of cash! They need not be concerned they have been wasting their time if you won't be able to be able to qualify for a big enough mortgage. The seller of the home won't worry if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't be something for them to fret over. They have a virtual guarantee that they can trust your ability to back up your offer.
We will help you with your pre-qualification
When we pre-qualify you, we help you determine the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you can qualify for. In this process, we calculate your capacity to borrow - analyzing your employment, money available for down payment, existing debt, income, and other circumstances. It's quick and to the point; and we take pride in keeping the paperwork light.
You can always use the calculators on this website to get an idea of how much mortgage you'll be able to afford - but it's also essential to talk with one of our mortgage professionals. For one thing, you'll want a Pre-Qualification Letter! Then, we will make sure we have found the best mortgage program for your situation. Let us get you started: Contact us at (805) 496-7500.
Have questions about pre-qualifying? Call us at (805) 496-7500. Strategic Home Loans, Inc. answers pre-qualifying questions every day.