Why it's Important to Pre-Qualify
Are you looking for a mortgage loan? We can help! Call us at 954.920.9799. Ready to begin? Apply Here.
It's valuable to consult with your mortgage loan professional early — even before you have begun narrowing down neighborhoods. What for? What can we do for you if you have not negotiated a price, and do not know yet the amount you need to borrow?
We will help you calculate how much of a mortgage you can afford, and how much money you can borrow, by walking you through the pre-qualification process. We will accomplish this by analyzing your income and debts, your employment and housing circumstances, your funds available for a down payment, required reserves, and some other things. We ask for a minimum amount of paperwork, and avoid a lengthy process.
Once you are determined to be eligible, we prove our confidence in your potential to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also known as a "pre-qual").
Power in the Pre-Qual
Holding your pre-qualification letter, several advantages are yours when you locate the home you want to make an offer on. The first is that you'll be sure the amount you will be able to afford when calculating the offer.
Even more important to the seller of the home, your pre-qualification gives them certainty - as if you had come to their house with a suitcase of cash to make the offer! They won't have to worry that that they are wasting their time if you don't have the ability to qualify for a big enough mortgage. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary 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 you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. We will accomplish this by reviewing your debts and income, your employment and residence situations, your available funds for a down payment, required reserves, and other financial considerations. We require a minimum amount of paperwork, and avoid a lengthy process.
While you are encouraged to try our tools to calculate mortgage variables on our site, it will be a good idea to meet with one of our mortgage professional team members. We can walk you through your pre-qualification letter. For another thing, we may locate a different mortgage choice that is a better fit for you. Let us get you started: Call us at 954.920.9799.
Have questions about pre-qualifying? Call us at 954.920.9799. First Southeast Mortgage Corporation answers pre-qualifying questions every day.