The Importance of Pre-Qualifying

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It's helpful to bring in your mortgage loan professional early — even before you've started to consider neighborhoods. Why? When you do not yet know how much home you want to qualify for, what could we do for you?

We Will Help You Pre-Qualify

When we pre-qualify you, we help you determine how much of a monthly payment you can fit in your budget, and how much we of a loan you can qualify for. This process outlines your finances - your debt, income, career, and down payment money, among other things. We ask for a minimum amount of paperwork, with a short,basic process.

Once you qualify, we give 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 mortgage to fit your situation and that we are confident you will qualify for a mortgage for a certain amount.

Power in the Pre-Qual

A number of beneifits open to you after you find your dream house, and have pre-qualification power. First, it helps you know the amount that you're able to offer. Being pre-qualified can also make your offer look even better to the home seller, as if you were bringing them a suitcase of cash! They will not need to be concerned they have been wasting their time if you can't have the ability to qualify for a high enough mortgage. The seller won't wonder if he can trust you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.

We will help you with your pre-qualification

When we pre-qualify you, we help you figure out how much of a monthly payment you can fit in your budget, and the loan amount you will qualify for. We will accomplish this by reviewing your debts and income, your employment and residence circumstances, your funds available for a down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.

One on one

While you are encouraged to try our tools to calculate mortgage variables on this website, it's essential to meet with us. We can walk you through your pre-qualification letter. Then, we will make sure we have the right mortgage program for your situation. We are waiting to meet with you: call us at (718) 477-4405.

Have questions about pre-qualifying? Call us at (718) 477-4405. Chris Caggiano - Grand Oaks Funding, LLC answers pre-qualifying questions every day.

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