Why Pre-Qualification is Important
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It can be important to see a mortgage loan pro early, even if you haven't decided the kind of home to search for. What for? Perhaps it is hard to fathom the ways we could help even before you start to talk about prices and negotiations.
We Can Help You Pre-Qualify
We can help determine how much of a mortgage loan you can afford, and how much money you can borrow, by walking you through the pre-qualification process. The process walks you through your financial situation - your debt, income, job, and down payment money, among other things. We require a minimum amount of paperwork, with a short,basic process.
Once you qualify, will give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), which says that we are working with you to find the best loan to meet your needs and that we're confident you will qualify for a mortgage for up to a specific amount.
Power in the Pre-Qual
Once you locate the house that is right for you, and you decide to put together an offer, being pre-qualified for a mortgage will do several things. The first is that you'll be sure the amount you will be able to afford when determining your offer.
Even more important to the current owner, your pre-qualification gives them certainty - as if you had arrived at their home with a suitcase of cash to make the offer! They need not worry that they're wasting their time if you won't be able to have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You have the clout of a buyer ready to make the purchase right now!
We help with your pre-qualification
When we pre-qualify you, we help you find out the amount you can afford in mortgage payments you can fit in your budget, and how much we of a loan you will qualify for. The process leads you through your finances - your debts, income, career, down payment money, among other things. It's short and to the point; and we keep the paperwork light.
One on one
While you are able to benefit from our tools to calculate mortgage variables on this website, it's a good idea to meet with us. For one thing, you'll need a Pre-Qualification Letter! For another thing, we may find a different mortgage program that fits your situation better. Let us help you get started: Contact us at (973) 601-2122.
Have questions about pre-qualifying? Call us at (973) 601-2122. We answer pre-qualification questions every day.