Should you talk to a mortgage professional before house hunting?
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and how much home you qualify for. We do this by considering your income and debts, your employment and residence history, your available funds for down payment and required reserves, and your credit history.
Once you qualify, we give you what's called a Pre-Qualification Letter (your
real estate agent might 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 believe you'll
qualify for a loan of a determined amount with a certain down payment
When you find a house that catches your eye, and you decide to make an offer,
being pre-qualified for a mortgage will do a couple of things. First, it lets
you know how much you can offer. Your real estate agent will help you decide on
an appropriate offer, but being pre-qualified gives you the confidence to know
you can follow through.
Also, to a home seller, your being pre-qualified lets them know you are capable of following through with an offer. They won't have to wonder if they're wasting their time because you'll never qualify for a mortgage. You have some clout and are a buyer ready to make the deal right now!
You can always use the calculators available on our site to get an idea of how much mortgage you can afford. But you'll still need a Pre-Qualification Letter from us.
And buying a new home is a source of anxiety, frustration, and a huge sense of accomplishment. You find the house that’s best for you and trust us to find the mortgage loan that best fits your needs, too. "Less paperwork and more personal attention" means you enter a frustration-free zone from application to decision. Getting the right mortgage loan is like getting the keys to your new house! We can help you get there. There are many different mortgage programs to choose from. We’ll help you find the one that is right for you.
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