The Importance of Pre-Qualifying

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It's helpful to see a mortgage loan pro first, even before you have determined the sort of house you hope to find. Why? If you do not know yet how much house you want to qualify for, what could we help you with?

We Will Help You Pre-Qualify

We will help you calculate 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 walks you through your finances - your debts, income, job, and cash available for down payment, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.

Once you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might call it a "pre-qual"), which documents the fact that we are working with you to find the best mortgage to meet your needs and that we're confident you will qualify for a mortgage loan up to a specific amount.

Buying Power

Several beneifits open to you after you have found your next house, and have achieved pre-qualification. The first is that you will be sure the amount you will be able to afford when determining your offer. Being pre-qualified will also make your offer more attractive to the home seller, as if you were bringing them a big box of cash! They need not worry that they have been wasting their time if you do 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 mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the capability to back up your offer.

We will help you with your pre-qualification

When we pre-qualify you, we help you decide the amount you can afford in monthly mortgage payments you can afford, and the loan amount you can qualify for. We achieve this by analyzing your debts and income, your employment and housing situations, your funds available for down payment, required reserves, and other considerations. We will ask for a minimum amount of paperwork, with a quick process.

One-on-One

You can always use the mortgage calculators available on our website to get an idea of how much mortgage you will be able to afford - but it's also valuable to talk with one of our mortgage professionals. That way, we can help you get your pre-qualification letter. For another thing, we may locate a different mortgage program that is a better fit for you. Let us help you get started: Contact us at (405) 822-1957.

Have questions about pre-qualifying? Call us at (405) 822-1957. We answer pre-qualification questions every day.