The Importance of Pre-Qualifying

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It is helpful to bring in your mortgage professional as soon as possible — even before you've begun narrowing down neighborhoods. Why? When you do not yet know how much home you need to qualify for, how can we help?

Pre-Qualify

We will help you calculate the loan amount you can qualify for and the mortgage payment amount you can afford by helping you pre-qualify. In the process, we look at your borrowing power - looking at your earning status, available money for down payment, debt, income, and other circumstances. It's quick and to the point; We take pride in keeping the paperwork light.

When you are considered eligible, we will prove our confidence in your capacity to qualify for a mortgage by giving you a Pre-Qualification Letter (also known as a "pre-qual").

Pre-Qualification Power

Several advantages open to you when you have found your dream house, and have achieved pre-qualification. The first is that you can know what you'll be able to afford when putting together the offer. Even more important to the existing owner, your pre-qualification letter gives them confidence - as if you had entered their home with a suitcase of cash to back up the offer! They won't need to be concerned that they have been wasting their time if you can't be able to qualify for a high enough mortgage loan. The seller won't worry if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary loan amount will not be something for them to lose sleep over. They have a virtual guarantee that they can trust your ability to back up your offer.

We will help you pre-qualify

We can help you calculate how much of a mortgage you can afford, and how much money you can borrow, by walking you through pre-qualifying. We can accomplish this by analyzing your debts and income, your work and housing situations, the funds available for down payment, required reserves, and other financial considerations. It's short and to the point; and we keep the paperwork to a minimum.

One-on-One

While you are encouraged to benefit from our tools to calculate mortgage variables on our website, it's essential to meet with one of our mortgage professional team members. For one thing, you will need a Pre-Qualification Letter! Then, we'll make sure we have the right mortgage program for your situation. 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.