When to Speak to a Mortgage Pro About Pre-Qualification
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Even if you've not so much as picked out homes to view yet, it can be advantageous to contact your mortgage pro first. Why? When you do not know yet how much house you need to qualify for, how could we help?
We will help you calculate how much of a mortgage you can afford, and how much money you may be able to borrow, by taking you through the pre-qualification process. During the process, we explore your ability to borrow - analyzing your job, money available for down payment, debt, income, and other areas. It's a short, thorough process with minimal risks for papercuts.
We award you a Pre-Qualification Letter when you qualify, which documents that we are confident you'll qualify for a predetermined amount of mortgage dollars.
With your pre-qualification letter, a number of advantages fall at your feet at the point you locate the house you want to make an offer for. First, it lets you know the amount that you're able to offer.
Even more important to the seller of the home, your pre-qualification letter gives them confidence - as if you had entered their house with a big box of cash to make the offer! They will not need to worry that that they're wasting their time if you can't have the ability to qualify for a high enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not be something for them to lose sleep over. They have a virtual guarantee to trust your ability to back up your offer.
We can help you pre-qualify
We will help you see how much of a mortgage you can afford, and how much money you can borrow, by taking you through pre-qualifying. We can do this by analyzing your debts and income, your employment and residence situations, the available funds for down payment, required reserves, and other financial considerations. We will ask for a minimum amount of paperwork, with a short, basic process.
You can certainly use the mortgage calculators on our website to get an idea of how much mortgage you'll be able to afford - but it's also valuable to meet with one of our mortgage professionals. For one thing, you'll need a Pre-Qualification Letter! Then, we'll make sure we have chosen the ideal mortgage loan program for your situation. Contact us at 562 320-0510 to get started.
Have questions about pre-qualifying? Call us at 562 320-0510. Reliance Mortgage Service, Inc answers pre-qualifying questions every day.