Why Pre-Qualification is Important
It is helpful to see a mortgage loan pro first, even if you haven't decided what type of home to look for. What for? Maybe it's hard to understand the ways in which we could help even before you begin to calculate your offer.
We Will Help You Pre-Qualify
We can help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through the pre-qualification process. The process outlines your financial situation - your debt, income, career, and cash available for down payment, among other things. It is a short, thorough process with minimal risks for papercuts.
At the point you are considered eligible, we prove our confidence in your ability to qualify for a mortgage by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Some advantages open to you when you've found your new house, and have pre-qualification. First, it helps you know how much you can offer.
Even more important to the current owner, your pre-qualification status gives them certainty - as if you'd arrived at their home with a suitcase of cash to make the offer! They won't need to worry that that they're wasting their time if you can't have the ability to qualify for a big enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount won't be something for them to be concerned about. You have the influence of a buyer ready to make the purchase on the spot!
We can help you pre-qualify
We will help you determine the loan amount you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. In the process, we explore your borrowing potential - reviewing your job, 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
It's vital to sit down and talk with us, even though you are welcome to also use the helpful mortgage loan calculator tools on this site. For one thing, you'll need a Pre-Qualification Letter! Next, we can consider your mortgage program options and be sure you are in the right one. Contact us at 503-243-5626 to get started.
Have questions about pre-qualifying? Call us at 503-243-5626. We answer pre-qualification questions every day.