The Importance of Pre-Qualification
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It's helpful to visit with a mortgage professional early, even if you haven't decided the kind of house to look for. Why? Maybe it is difficult to understand the way we could help even before you begin to negotiate.
When we pre-qualify you, we help you decide the amount in mortgage payments you can afford, and how much we of a loan you will qualify for. We can accomplish this by reviewing your income and debts, your employment and housing situations, the funds available for a down payment, required reserves, and other financial considerations. We ask for a minimum amount of paperwork, with a short,basic process.
After you are determined to be eligible, we will prove our confidence in your ability to qualify for a loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
A number of beneifits open to you once you've found your next house, and have achieved pre-qualification. The first is that you can be sure the amount you'll be able to afford when putting together the offer.
Of greater importance to the home seller, your being pre-qualified is like your having entered their house with a bag full of cash to purchase their house! They will not need to be concerned that they're wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he can't trust you to qualify for your loan.Your qualifying for the necessary loan amount won't cause them concern. You have the ability to back your offer up.
We can help you pre-qualify
We will help you see how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. This process outlines your finances - your debt, income, employment, cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.
While you can try our mortgage calculators on this website, it will be a good idea to meet with us. We can begin working on your pre-qualification letter. Next, we can consider your mortgage choices and make sure you have chosen the right one. We're eager to hear from you: call us at (816) 525-8000 & (81.
Have questions about pre-qualifying? Call us at (816) 525-8000 & (81. It's our job to answer pre-qualification questions, so we're happy to help!
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