The Importance of Pre-Qualifying
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Even if you've not picked out houses to visit yet, it can be important to see your mortgage pro first. Why? Maybe it's difficult to fathom the ways in which we could help even before you start to talk about prices and negotiations.
When we pre-qualify you, we help you find out the amount in monthly payments you can fit in your budget, and the loan amount you can qualify for. In this process, we determine your ability to borrow - analyzing your earning status, available money for down payment, existing debt, income, and other areas. It is a short, thorough process with minimal risks for papercuts.
We will give you a Pre-Qualification Letter once you qualify, which says that we're confident you will qualify for up to a certain amount of mortgage loan dollars.
A number of advantages open to you once you find your new house, and have pre-qualification power. The first is that you'll be sure the amount you'll be able to afford when determining your offer. Even more important to the seller, your pre-qualification letter gives them confidence - as if you had come to their house with a suitcase of cash to back up the offer! They won't need to wonder if that they are wasting their time if you do not be able to qualify for a high enough mortgage. The seller of the home won't worry if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount will not be something for them to worry about. 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 how much of a monthly mortgage payment you can fit in your budget, and the loan amount you can qualify for. In the process, we calculate your borrowing potential - analyzing your employment, available money for down payment, existing debt, income, and other circumstances. It's a short, thorough process with minimal risks for papercuts.
It is important to sit down and talk with us, even though you are welcome to also use the helpful mortgage calculator tools on our website. For one thing, you'll want a Pre-Qualification Letter! For another thing, we could locate a different mortgage program that better fits your needs. We're waiting to meet with you: contact us at (707) 521-3434 Ext. 23.
Have questions about pre-qualifying? Call us at (707) 521-3434 Ext. 23. Allstate Mortgage Company answers pre-qualifying questions every day.