The Importance of Pre-Qualification

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Even if you haven't researched houses to visit yet, it is important to see your mortgage professional early. What for? How can we help you if you have not negotiated an amount, and don't yet know the amount you need to borrow?

Pre-Qualify

We can help determine how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by walking you through the pre-qualification process. This process outlines your current financial situation - your debt, income, employment, and down payment money, among other things. It's quick and to the point; We keep the paperwork to a minimum.

Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which says that we are helping you to find the right loan to meet your financial needs and that we are confident you'll qualify for a mortgage up to a certain amount.

Power in the Pre-Qual

After you find a house that catches your eye, and you want to make an offer, being pre-qualified for a loan will do several things. First, it lets you know the amount that you're able to offer. More important to the home seller, your being pre-qualified is like your having walked into their front door with a suitcase full of money to purchase the house! They won't need to worry that that they're wasting their time if you will not have the ability to qualify for a big enough mortgage loan. The seller of the home won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount will not be something for them to lose sleep over. They have a virtual guarantee to trust your buying power.

We help with your pre-qualification

Our mortgage professionals can help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. We accomplish this by considering your income and debts, your work and residence circumstances, the available funds for down payment, required reserves, and other financial considerations. It's quick and basic; and we take pride in keeping the paperwork light.

Face to Face

While you are able to benefit from our tools to calculate mortgage variables on this site, it is a good idea to sit down and talk with us. That way, we will help you get your pre-qualification letter. Next, we can study your mortgage program choices and be sure you are in the right one. We are waiting to hear from you: contact us at 2817780805.

Have questions about pre-qualifying? Call us at 2817780805. 1st Credential Mortgage Inc answers pre-qualifying questions every day.