The Importance of Pre-Qualifying

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It's important to visit with a mortgage loan pro early, even before you've determined the sort of home to search for. Why? Maybe it's hard to understand the ways in which we can help even before you start to negotiate.

Pre-Qualify

We will help you calculate how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by taking you through the pre-qualification process. This process takes you through your finances - your debt, income, career, and down payment money, among other things. It's a quick, thorough process with minimal risks for papercuts.

At the point you are determined to be eligible, we document our confidence in your ability to qualify for a mortgage by awarding you a Pre-Qualification Letter (also called a "pre-qual").

Pre-Qualification Power

Once you locate the house that meets your needs, and you want to put together an offer, being pre-qualified for a mortgage will do several things. The first is that you can be sure the amount you'll be able to afford when putting together the offer. Even more important to the seller of the house, your pre-qualification status gives them confidence - as if you'd entered their house with a bag of cash to make the offer! They won't have to wonder if they're wasting their time if you can't have the ability to qualify for a big enough mortgage loan. The seller won't wonder if he can trust you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't be something for them to lose sleep over. You have the ability to back up your offer.

We will help you 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 can qualify for. We achieve this by reviewing your income and debts, your work and residence circumstances, your available funds for down payment, required reserves, and some other things. We will require a minimum amount of paperwork, with a short, basic process.

One on one

While you can try our tools to calculate mortgage variables on this website, it will be a good idea to meet with one of our mortgage professional team members. For one thing, you will want a Pre-Qualification Letter! Then, we can make sure we have the ideal mortgage program for your situation. Let us get you started: Contact us at (405) 822-1957.

Have questions about pre-qualifying? Call us at (405) 822-1957. Executive Lending Group answers pre-qualifying questions every day.