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Even if you've not so much as picked out houses to view yet, it's advantageous to contact your mortgage pro first. What for? It may be hard to fathom the way we can help even before you start to negotiate.
We Will Help You Pre-Qualify
When we pre-qualify you, we help you determine the amount in monthly payments you can afford, and the loan amount you can qualify for. The process walks you through your current financial situation - your debts, income, career, and down payment money, among other things. We will require a minimum amount of paperwork, with a short,basic process.
Once you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which says that we are helping you to find the right mortgage to meet your needs and that we're confident you will qualify for a loan for a certain amount.
With your pre-qualification letter, a number of advantages fall at your feet at the point you find the house you want to make an offer for. First, it helps you know the amount that you can offer.
Even more important to the existing owner, your pre-qualification gives them certainty - as if you'd come into their home with a suitcase of cash to back up the offer! They won't have to worry that they have been wasting their time if you don't be able to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you'll need.Your qualifying for your needed mortgage loan amount won't cause them concern. They have a virtual guarantee to trust your ability to back up your offer.
We help with your pre-qualification
We will help determine how much of a mortgage you can afford, and the amount of money you can borrow, by walking you through the pre-qualification process. This process takes you through your finances - your debt, income, employment, cash available for down payment, among other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.
Face to Face
You can always use the calculators here on this website to calculate how much mortgage you will be able to afford - but it's also essential to meet with one of our mortgage professionals. We can walk you through your pre-qualification letter. Then, we can make sure we have chosen the ideal mortgage program for you. Contact us at 954.920.9799 to get your pre-qualification process started.
Have questions about pre-qualifying? Call us at 954.920.9799. First Southeast Mortgage Corporation answers pre-qualifying questions every day.