When to Speak to a Mortgage Professional About Pre-Qualifying
Shopping for a mortgage? We'd be thrilled to talk about our mortgage offerings! Call us at (718) 477-4405. Ready to begin? Apply Here.
It is important to bring in your mortgage professional as soon as possible — even before you've started researching neighborhoods. Why? Perhaps it is hard to fathom the ways in which we can help even before you start to talk about prices and negotiations.
We Can Help You Pre-Qualify
When we pre-qualify you, we help you decide the amount in mortgage payments you can afford, and the size of loan you will qualify for. This process walks you through your finances - your debt, income, career, and cash available for down payment, among other things. It's short and to the point; We take pride in keeping the paperwork to a minimum.
Once you qualify, we 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 best loan program to meet your financial needs and that we're confident you will qualify for a mortgage loan for up to a certain amount.
Once you locate a house that is ideal for you, and you want to put together an offer, being pre-qualified for a loan will do several things. First, it lets you know the amount that you can offer.
Even more important to the seller of the house, your pre-qualification gives them certainty - as if you had arrived at their home with a big box of cash to make the offer! They will not have to be concerned they are wasting their time if you do not be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can trust you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not be something for them to lose sleep over. You have the ability to back your offer up.
We help with your pre-qualification
When we pre-qualify you, we help you figure out the amount you can afford in mortgage payments you can fit in your budget, and the loan amount you will qualify for. We accomplish this by reviewing your debts and income, your work and housing circumstances, the funds available for down payment, required reserves, and some other things. It's short and basic; and we take pride in keeping the paperwork light.
You can always use the calculators here on our website to calculate the size mortgage you'll be able to afford - but it's also essential to talk with us. We can walk you through your pre-qualification letter. Next, we can consider your mortgage program options to be sure you have chosen the best one. Contact us at (718) 477-4405 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (718) 477-4405. It's our job to answer pre-qualification questions, so we're happy to help!