The Importance of Pre-Qualification
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It is important to consult your mortgage professional as soon as possible — even before you have started narrowing down neighborhoods. What for? What can we do for you if you have not made your offer, and don't yet know how much you want to borrow?
We Will Help You Pre-Qualify
We will help you see how much of a mortgage you can afford, and the amount of money you may be able to borrow, by taking you through pre-qualifying. This process outlines your financial situation - your debts, income, employment, and cash available for down payment, among other things. It is a quick, thorough process with minimal risks for papercuts.
Once you qualify, we 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 partnering with you to find the best loan program to meet your needs and that we are confident you'll qualify for a mortgage for up to a specific amount.
Power in the Pre-Qual
Several beneifits open to you once you find your dream house, and have pre-qualification. First of all, you have some general numbers in mind, as the amount you can borrow.
Of greater importance to the current home owner, your pre-qualification is like your having entered their front door with a suitcase full of money ready to make the deal! They need not wonder if they're wasting their time if you don't be able to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't be something for them to be concerned about. They have a virtual guarantee that they can trust your buying power.
We help with your pre-qualification
Our mortgage professionals can help you find out the loan amount you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We accomplish this by reviewing your debts and income, your work and housing situations, the available funds for down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
While you can try our tools to calculate mortgage variables on our site, it will be a good idea to sit down and talk with one of our mortgage professional team members. We can walk you through your pre-qualification letter. For another thing, we may locate a different mortgage choice that is a better fit for you. Contact us at (732) 969-9300 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at (732) 969-9300. Atlantic Financial Services answers pre-qualifying questions every day.