Why Pre-Qualification is Important
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Even if you have not so much as narrowed down homes to visit yet, it's valuable to see your mortgage loan professional early. What for? When you don't yet know how much home you need to qualify for, how could we help?
We Can Help You Pre-Qualify
We can help you calculate how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. We will do this by reviewing your income and debts, your work and housing situations, the available funds for a down payment, required reserves, and some other things. It's a quick, thorough process with minimal risks for papercuts.
We give you a Pre-Qualification Letter when you qualify, which documents that we're confident you'll qualify for up to a predetermined amount of mortgage dollars.
When you find a house that is best for you, and you want to put together an offer, being pre-qualified for a loan will do several things. The first is that you can know what you will be able to afford when calculating the offer.
Even more important to the seller of the home, your pre-qualification gives them confidence - as if you'd come into their house with a suitcase of cash to back up the offer! They will not have to wonder if they have been wasting their time if you do not be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage 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 help with your pre-qualification
When we pre-qualify you, we help you figure out the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. We can accomplish this by considering your income and debts, your work and housing circumstances, your available funds for a down payment, required reserves, and some other things. It's quick and to the point; and we take pride in keeping the paperwork light.
Face to Face
You can certainly use the calculators on this site to get an idea of how much mortgage you'll be able to afford - but it's also valuable to meet with us. We can work toward your pre-qualification letter. For another thing, we could find a different mortgage program that fits your needs better. Let us help you get started: Call us at 562 320-0510.
Have questions about pre-qualifying? Call us at 562 320-0510. Reliance Mortgage Service, Inc answers pre-qualifying questions every day.