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It is helpful to consult your mortgage loan professional early — even before you've begun narrowing down neighborhoods. Why? When you don't yet know how much house you want to qualify for, what can we help you with?
We Will Help You Pre-Qualify
We will help you determine the loan amount you can qualify for and the monthly mortgage payment amount you can afford by getting you pre-qualified. In the process, we explore your borrowing power - reviewing your employment, money available for down payment, debts, income, and other circumstances. We will require a minimum amount of paperwork, and avoid a lengthy process.
Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are helping you to find the ideal mortgage loan to meet your financial needs and that we are confident you'll qualify for a mortgage loan for a certain amount.
Power in the Pre-Qual
Holding your pre-qualification letter, some advantages fall at your feet once you locate the home you want to make an offer for. First, you have some definite numbers in mind, as the amount you will be able to borrow. Being pre-qualified also will make your offer look even better to the home seller, like you were bringing them a bag full of cash! They won't need to be concerned they are wasting their time if you don't have the ability to qualify for a big enough mortgage. The seller won't be concerned that he can't trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount will not cause them concern. You'll have the sway of a buyer ready to make the purchase right now!
We will help you with your pre-qualification
When we pre-qualify you, we help you find out the amount you can afford in monthly mortgage payments you can fit in your budget, and how much we of a loan you will qualify for. We do this by considering your debts and income, your work and housing circumstances, your funds available for down payment, required reserves, and other financial considerations. It is a short, thorough process with minimal risks for papercuts.
Face to Face
You can always use the calculators on this website to get an idea of how much mortgage you'll be able to afford - but it's also essential to talk with one of our mortgage professionals. That way, we can help you get your pre-qualification letter. Then, we will make sure we have chosen the ideal mortgage loan program for you. We're eager to meet with you: call us at 858-459-8700.
Have questions about pre-qualifying? Call us at 858-459-8700. Heritage Mortgage & Real Estate answers pre-qualifying questions every day.