Why Pre-Qualification is Important
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Even if you have not so much as narrowed down homes to visit yet, it's advantageous to contact your mortgage loan professional early. Why? Maybe it's difficult to fathom the way we could help even before you begin to negotiate.
We will help you calculate how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through pre-qualifying. During this process, we determine your borrowing capacity - reviewing your employment, available money for down payment, debts, income, and other circumstances. It's quick and basic; We take pride in keeping the paperwork light.
When you qualify, will present to you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which documents the fact that we are helping you to find the ideal loan program to fit your situation and that we are confident you will qualify for a mortgage for a certain amount.
With your pre-qualification letter, some advantages are yours once you locate the home you want to make an offer on. The first is that you can be sure what you will be able to afford when determining the offer.
Your pre-qualification can also make your offer look even better to the seller, like you were bringing them a bag full of cash! They won't need to be concerned that they're wasting their time if you can't be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed loan amount won't cause them concern. You have the influence of a buyer ready to make the purchase right now!
We can help you pre-qualify
Our mortgage professionals will help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. During the process, we determine your ability to borrow - looking at your employment, money available for down payment, existing debt, income, and other circumstances. We as for a minimum amount of paperwork, with a quick process.
Face to Face
It is vital to sit down and talk with us, even though you are free to also try the helpful mortgage calculators on our website. We can walk you through your pre-qualification letter. Then, we can make sure we have the best mortgage program for your situation. We're waiting to meet with you: contact 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.