Pre-qualify Before You Buy

I am sure that you are excited about the idea of buying a new home. Since one of the first and most important steps is determining how much house you can afford or what payment you feel comfortable with paying, you will want to be pre-qualified.

1. Mortgage pre-qualification establishes your price range and strengthens your buying position by letting the seller know that you have already taken proactive steps towards the purchase of a home.
2. Mortgage Pre-qualification will assist in helping to remove barriers or roadblocks that may affect your credit worthiness.
3. Mortgage Pre-qualification will help you to arrive at the amount of monthly payment that is right for you.
4. Mortgage pre-qualification will help you to identify the loan programs available, it’s important to know which types you qualify for and which best suits your needs.

A mortgage lender can take the guess work out of applying for a loan. This process can be completed most times by telephone. In order to pre-qualify you the lender will need the following:

1. Your employment history and Income
2. Your monthly debts and obligations
3. The amount and source of Cash available for closing costs

For more information on the pre-qualification and the loan approval process and learn more about the guide lines that are used to approve mortgage loans visit “WHAT A LENDER IS LOOKING FOR” .

Once this process is complete the lender will provide you with a pre-qualification letter stating your mortgage affordability.

Contact us and we will answer any questions that you may have regarding the importance of pre-qualification as well as share with you some of the incentive programs available for the 1st time buyer and opportunities for buyers in general. It would also be our pleasure to offer you the names of lenders who would be happy to analyze your entire situation and would be willing to discuss buying options with you.