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It's helpful to see a mortgage professional first, even if you haven't decided the sort of house to look for. Why? What can we do for you before you have made your offer, and do not know yet how much you need to borrow?
We Will Help You Pre-Qualify
When we pre-qualify you, we help you decide the amount in mortgage payments you can afford, and the loan amount you can qualify for. We will achieve this by considering your debts and income, your employment and housing circumstances, the available funds for a down payment, required reserves, and other considerations. We ask for a minimum amount of paperwork, and avoid a lengthy process.
We award you a Pre-Qualification Letter when you qualify, which documents that we are confident you'll qualify for a predetermined amount of mortgage loan dollars.
Power in the Pre-Qual
Armed with your pre-qualification letter, a number of advantages fall at your feet when you locate the house you want to make an offer for. First, it lets you know how much you can offer.
Your pre-qualification will also make your offer look even better to the home seller, like you were bringing them a suitcase full of cash! They need not wonder if they have been wasting their time if you can't have the ability to qualify for a big enough mortgage. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount won't cause them concern. You have the capability to back your offer up.
We can help you pre-qualify
We can help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. We will achieve this by analyzing your income and debts, your work and housing situations, your available funds for a down payment, required reserves, and other financial considerations. It's short and basic; and we keep the paperwork light.
One on one
You can always use the mortgage calculators here on this site to get an idea of how much mortgage you will be able to afford - but it's also valuable to meet with us. For one thing, you will want a Pre-Qualification Letter! For another thing, we may find a different mortgage option that better fits your needs. Let us help you get started: Contact us at 205-941-1484.
Have questions about pre-qualifying? Call us at 205-941-1484. It's our job to answer pre-qualification questions, so we're happy to help!