Why it's Important to Pre-Qualify

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It is important to bring in your mortgage professional as soon as possible — even before you have started to consider neighborhoods. What for? Perhaps it's hard to understand the ways in which we could help even before you begin to talk about prices and negotiations.


We will help determine how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. We achieve this by considering your income and debts, your work and housing circumstances, your funds available for a down payment, required reserves, and some other things. We require a minimum amount of paperwork, with a quick process.

When you qualify, we present to you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), which says that we are helping you to find the right mortgage loan to fit your financial needs and that we are confident you will qualify for a loan for a specific amount.

Power in the Pre-Qual

With your pre-qualification letter, some advantages are yours once you locate the house you want to put together an offer for. The first is that you will know the amount you can afford when determining the offer. Being pre-qualified will also make your offer look even better to the seller, like you were bringing them a suitcase of cash! They will not have to wonder if that they are 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 mortgage in the amount you'll need.Your qualifying for the necessary loan amount will not be something for them to lose sleep over. You have the ability to back up your offer.

We will help you with your pre-qualification

When we pre-qualify you, we help you figure out the amount you can afford in monthly payments you can fit in your budget, and the loan amount you can qualify for. The process outlines your current financial situation - your debt, income, career, cash available for down payment, among other things. We require a minimum amount of paperwork, with a short, basic process.

Face to Face

While you are able to try our tools to calculate mortgage variables on our website, it is a good idea to sit down and talk with one of our mortgage professional team members. We can work toward your pre-qualification letter. Next, we can consider your mortgage program choices to be sure you have selected the best one. Contact us at (773) 774-9040 Ext 121 to get started.

Have questions about pre-qualifying? Call us at (773) 774-9040 Ext 121. We answer pre-qualification questions every day.

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