Why Pre-Qualification is Important
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It can be helpful to visit with a mortgage professional first, even if you haven't decided what type of home to look for. What for? How can we help before you have negotiated a price, and do not know yet the amount you need to borrow?
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can fit in your budget, and how much we of a loan you can qualify for. This process walks you through your current financial situation - your debt, income, job, and cash available for down payment, among other things. We will ask for a minimum amount of paperwork, with a quick process.
When you are determined to be eligible, we document our confidence in your capacity to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Holding your pre-qualification letter, some advantages are yours once you locate the house you want to put together an offer for. First, it helps you know the amount that you're able to offer.
Of greater importance to the current home owner, your pre-qualification is like your having entered their house with a bag full of cash ready to purchase their home! They need not wonder if they're wasting their time if you do not have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for your needed loan amount won't be something for them to lose sleep over. You have the influence of a buyer ready to make the purchase right now!
We will help you pre-qualify
We will help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. The process outlines your financial situation - your debts, income, job, down payment money, among other things. It's quick and basic; and we take pride in keeping the paperwork to a minimum.
Face to Face
You can certainly use the mortgage calculators on our site to calculate how much mortgage you can afford - but it's also important to meet with us. That way, we'll help you get your pre-qualification letter. Next, we can study your mortgage program options and be sure you are in the right one. Let us get you started: Call us at (732) 969-9300.
Have questions about pre-qualifying? Call us at (732) 969-9300. It's our job to answer pre-qualification questions, so we're happy to help!