Why Pre-Qualification is Important
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It's helpful to visit with a mortgage professional early, even if you haven't decided the sort of house you hope to find. Why? What can we do for you if you haven't negotiated a price, and do not yet know the amount you need to borrow?
We Can Help You Pre-Qualify
We will help you see how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. During the process, we calculate your borrowing capacity - looking at your job, money available for down payment, debts, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
After you are considered eligible, we will prove our confidence in your capacity to qualify for a loan by presenting you with a Pre-Qualification Letter (also known as a "pre-qual").
Some beneifits open to you after you have found your next house, and have pre-qualification. First, it lets you know the amount that you're able to offer.
Of greater importance to the home seller, your being pre-qualified is like your having walked into their front door with a suitcase full of cash to make the deal! They won't need to worry that they have been wasting their time if you can't be able to qualify for a high enough mortgage. The seller won't worry if he can trust you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to lose sleep over. They have a virtual guarantee that they can trust your buying power.
We will help you pre-qualify
We can help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through pre-qualifying. We do this by analyzing your income and debts, your employment and residence situations, your funds available for down payment, required reserves, and other financial considerations. It's short and basic; and we take pride in keeping the paperwork to a minimum.
It's important to sit down and talk with us, even though you are welcome to also try the helpful mortgage loan calculators on our site. For one thing, you'll want a Pre-Qualification Letter! For another thing, we could locate a different mortgage choice that better fits your needs. Let us help you get started: Contact us at (718) 477-4405.
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!