The Importance of Pre-Qualifying
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Even if you haven't so much as researched houses to visit yet, it is important to contact your mortgage pro early. Why? It might be hard to fathom the ways we can help even before you begin to negotiate.
We can help determine how much of a mortgage loan you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. The process outlines your financial situation - your debt, income, job, and down payment money, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.
After you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that says that we are partnering with you to find the ideal loan to fit your needs and that we are confident you will qualify for a mortgage up to a certain amount.
Power in the Pre-Qual
With your pre-qualification letter, a number of advantages fall at your feet at the point you locate the home you want to put together an offer on. The first is that you can be sure the amount you'll be able to afford when calculating your offer.
Even more important to the existing owner, your pre-qualification status gives them certainty - as if you'd come into their home with a bag of cash to make the offer! They won't need to worry that they have been wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed loan amount will not be something for them to fret over. You have the ability to back up your offer.
We help with your pre-qualification
When we pre-qualify you, we help you figure out the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. We achieve this by reviewing your debts and income, your employment and housing situations, your funds available for a down payment, required reserves, and other financial considerations. It is a quick, thorough process with minimal risks for papercuts.
One on one
It is important to sit down and meet with us, even though you are welcome to also use the helpful mortgage calculator tools on our site. We can work toward your pre-qualification letter. Next, we can review your loan choices and make sure you are in the best one. Let us get you started: Call us at 5622061550.
Have questions about pre-qualifying? Call us at 5622061550. C2 Financial Corporation answers pre-qualifying questions every day.