Why it's Important to Pre-Qualify
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It's helpful to consult with your mortgage professional as soon as possible — even before you've started to consider neighborhoods. What for? Perhaps it's hard to understand the ways we can help even before you begin to negotiate.
We will help you determine the loan amount you can qualify for and the mortgage payment amount you can afford by helping you pre-qualify. The process takes you through your finances - your debt, income, career, and down payment money, among other things. It's short and basic; We keep the paperwork light.
When you are considered eligible, we will prove our confidence in your capacity to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Once you locate the house that is ideal for you, and you want to put together an offer, being pre-qualified for a mortgage loan will do several things. First of all, you have some concrete numbers in mind, as the total you will qualify for on your loan.
Even more important to the present owner, your pre-qualification letter gives them certainty - as if you'd entered their house with a big box of cash to back up the offer! They will not need to be concerned they are wasting their time if you will not be able to qualify for a big enough mortgage loan. The seller of the home won't wonder if he can count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.
We will help you pre-qualify
When we pre-qualify you, we help you determine how much of a monthly payment you can fit in your budget, and the loan amount you can qualify for. We can do this by analyzing your debts and income, your work and residence situations, the available funds for down payment, required reserves, and some other things. We require a minimum amount of paperwork, with a quick process.
Face to Face
You can always use the calculators on this website to calculate how much mortgage you'll be able to afford - but it's also essential to talk with us. For one thing, you will want a Pre-Qualification Letter! For another thing, we might be able to find a different mortgage option that better fits your needs. Contact us at 214-300-8756 to get started.
Have questions about pre-qualifying? Call us at 214-300-8756. F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) answers pre-qualifying questions every day.