Why Pre-Qualification is Important
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Even if you have not narrowed down homes to visit yet, it's valuable to see your mortgage professional early. What for? When you do not yet know how much home you need to qualify for, how could we help?
We Can Help You Pre-Qualify
When we pre-qualify you, we help you determine the amount in mortgage payments you can afford, and the loan amount you can qualify for. In this process, we determine your ability to borrow - analyzing your earning status, available money for down payment, debt, income, and other circumstances. It's a short, thorough process with minimal risks for papercuts.
Once you qualify, will present to you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are working with you to find the best mortgage loan to meet your financial needs and that we're confident you'll qualify for a mortgage for up to a specific amount.
When you find a house that is right for you, and you want to put together an offer, being pre-qualified for a loan will do several things. First of all, you have some concrete numbers in mind, as the amount you will qualify for on your mortgage loan.
Even more important to the seller, your pre-qualification letter gives them certainty - as if you'd entered their home with a suitcase of cash to back up the offer! They need not be concerned they have been wasting their time if you can't have the ability to qualify for a high enough mortgage loan. The seller of the home won't worry if he can trust you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to fret over. You have the ability to back up your offer.
We will help you with your pre-qualification
We can help determine how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through pre-qualifying. We accomplish this by reviewing your debts and income, your employment and housing situations, your funds available for down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, with a short, basic process.
One on one
You can always use the mortgage calculators here on our website to get an idea of how much mortgage you can afford - but it's also valuable to talk with us. For one thing, you'll want a Pre-Qualification Letter! For another thing, we could find a different mortgage option that better fits your needs. Let us get you started: Call us at 816-272-5550.
Have questions about pre-qualifying? Call us at 816-272-5550. AAA Mortgage LLC answers pre-qualifying questions every day.