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It is valuable to consult with your mortgage loan professional as soon as possible — even before you've begun researching neighborhoods. Why? How can we help before you have made an offer, and do not know yet how much you need to borrow?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you decide the amount in mortgage payments you can fit in your budget, and the loan amount you can qualify for. We can do this by considering your income and debts, your work and residence circumstances, the available funds for down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
After you are determined to be eligible, we prove our confidence in your potential to qualify for a mortgage by presenting you with a Pre-Qualification Letter (also called a "pre-qual").
Some advantages open to you after you find your next house, and have achieved pre-qualification. First, you have some definite numbers in mind, as the total you can borrow.
Being pre-qualified will also make your offer more attractive to the home seller, like you were bringing them a big box of cash! They will not have to worry that that they're wasting their time if you will not be able to qualify for a high 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 the necessary mortgage loan amount won't cause them concern. You have the ability to back your offer up.
We will help you pre-qualify
We can help you see how much of a mortgage loan you can afford, and how much money you may be able to borrow, by walking you through the pre-qualification process. We achieve this by reviewing your debts and income, your work and housing circumstances, the funds available for a down payment, required reserves, and other considerations. It is a short, thorough process with minimal risks for papercuts.
One on one
You can certainly use the mortgage calculators here on our website to calculate how much mortgage you can afford - but it's also essential to talk with us. We can begin getting your pre-qualification letter. Next, we can consider your mortgage options to be sure you have chosen the best one. Contact us at (405) 822-1957 to get started.
Have questions about pre-qualifying? Call us at (405) 822-1957. Executive Lending Group answers pre-qualifying questions every day.