It's important to bring in your mortgage professional early — even before you've started to consider neighborhoods. Why? If you do not know yet how much house you want to qualify for, what can we do for you?
Our mortgage professionals will help you determine the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. We achieve this by reviewing your income and debts, your work and residence circumstances, the funds available for a down payment, required reserves, and some other things. It's short and to the point; We keep the paperwork light.
After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), that documents the fact that we are working with you to find the right loan program to meet your financial needs and that we're confident you will qualify for a mortgage loan for a certain amount.
After you locate the house that meets your needs, and you want to make 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 determining your offer. Of greater importance to the current home owner, your pre-qualification is like your having entered their house with a suitcase full of cash ready to purchase their house! They will not have to wonder if that they are wasting their time if you can't be able to qualify for a big enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not be something for them to be concerned about. You have the capability to back up your offer.
We help with your pre-qualification
We will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. During the process, we calculate your capacity to borrow - analyzing your earning status, money available for down payment, debts, income, and other circumstances. We will require a minimum amount of paperwork, with a short, basic process.
Face to Face
While you are able to use our tools to calculate mortgage variables on our website, it's essential to sit down and talk with us. That way, we can help you get your pre-qualification letter. Then, we will make sure we have the right mortgage loan program for you. Contact us at (224) 578-2145 to get your pre-qualification process started.