The Importance of Pre-Qualification
Even if you have not picked out homes to visit yet, it is important to contact your mortgage loan professional first. Why? Maybe it is hard to fathom how we could help even before you begin to calculate your offer.
When we pre-qualify you, we help you find out the amount in mortgage payments you can fit in your budget, and the size of loan you will qualify for. The process walks you through your finances - your debt, income, career, and cash available for down payment, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
When you qualify, we present to you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are working with you to find the right mortgage loan to fit your financial needs and that we're confident you will qualify for a mortgage loan up to a specific amount.
Power in the Pre-Qual
After you locate the house that meets your needs, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. The first is that you'll be sure what you'll be able to afford when calculating your offer.
Even more important to the seller, your pre-qualification gives them confidence - as if you had come to their home with a big box of cash to make the offer! They won't have to wonder if that they have been wasting their time if you won't be able to be able to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't be something for them to be concerned about. You'll have the clout of a buyer ready to make the deal on the spot!
We help with your pre-qualification
When we pre-qualify you, we help you find out how much of a monthly payment you can afford, and how much we of a loan you can qualify for. The process takes you through your current financial situation - your debts, income, job, cash available for down payment, among other things. We as for a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
It is vital to sit down and meet with us, even though you are welcome to also use the helpful mortgage calculators on this site. That way, we'll help you get your pre-qualification letter. Then, we'll make sure we have selected the right mortgage program for your situation. Contact us at 9013595912 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 9013595912. American Mortgage Services, Inc. answers pre-qualifying questions every day.