The Importance of Pre-Qualifying
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It's valuable to visit with a mortgage loan pro early, even if you haven't settled on the sort of home to search for. What for? It might be difficult to fathom the ways we could help even before you begin to calculate your offer.
We will help determine how much of a mortgage loan you can afford, and the amount of money you may be able to borrow, by taking you through pre-qualifying. The process walks you through your finances - your debts, income, career, and cash available for down payment, among other things. It's short and to the point; We keep the paperwork light.
After you are determined to be eligible, we prove our confidence in your capacity to qualify for a mortgage by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Several beneifits open to you after you've found your next house, and have pre-qualification. First, you have some definite numbers in mind, as the amount you will qualify for on your mortgage loan.
Being pre-qualified can also make your offer look even better to the seller, as if you were bringing them a bag full of cash! They will not need to wonder if that they are wasting their time if you won't be able to be able to qualify for a high enough mortgage. The seller won't wonder if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for your needed mortgage loan amount won't be something for them to fret over. You'll have the clout of a buyer ready to make the deal right now!
We will help you with your pre-qualification
We will help you determine how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. We will accomplish this by considering your debts and income, your work and residence circumstances, the available funds for a down payment, required reserves, and some other things. We will require a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can always use the mortgage calculators here on this site to get an idea of how much mortgage you can afford - but it's also valuable to talk with one of our mortgage professionals. We can walk you through your pre-qualification letter. For another thing, we might find a different mortgage option that better fits your needs. We're eager to hear from you: call us at 702-524-1376.
Have questions about pre-qualifying? Call us at 702-524-1376. North American Financial answers pre-qualifying questions every day.
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