Why Pre-Qualification is Important
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It's helpful to consult your mortgage professional as soon as possible — even before you've started to consider neighborhoods. What for? It might be difficult to fathom the ways we could help even before you begin to talk about prices and negotiations.
We Can Help You Pre-Qualify
We will help you calculate how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We will accomplish this by analyzing your debts and income, your employment and residence circumstances, your available funds for a down payment, required reserves, and other financial considerations. It is a quick, thorough process with minimal risks for papercuts.
When you qualify, we give you a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which documents the fact that we are partnering with you to find the ideal mortgage loan program to fit your situation and that we are confident you'll qualify for a mortgage loan up to a certain amount.
Power in the Pre-Qual
Armed with your pre-qualification letter, some advantages fall at your feet when you locate the home you want to put together an offer for. First of all, you have some definite numbers in mind, as the amount you will qualify for on your mortgage loan.
Even more important to the seller of the house, your pre-qualification status gives them certainty - as if you'd come into their home with a big box of cash to make the offer! 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 of the home won't be concerned that he can't trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed loan amount won't cause them concern. You have the influence of a buyer ready to make the deal on the spot!
We will help you pre-qualify
We will help you see how much of a mortgage loan you can afford, and how much money you can borrow, by taking you through the pre-qualification process. This process outlines your financial situation - your debt, income, career, down payment money, among other things. It's short and to the point; and we keep the paperwork to a minimum.
One on one
It is important for you to sit down and meet with us, even though you are free to also use the helpful mortgage loan calculator tools on our website. We can work toward your pre-qualification letter. For another thing, we might find a different mortgage option that fits your goals better. Let us get you started: Call us at (732) 969-9300.
Have questions about pre-qualifying? Call us at (732) 969-9300. Atlantic Financial Services answers pre-qualifying questions every day.