The Importance of Pre-Qualifying
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It is helpful to consult your mortgage loan professional as soon as possible — even before you've started to consider neighborhoods. Why? When you don't yet know how much house you want to qualify for, what can we do for you?
We will help you calculate how much of a mortgage you can afford, and the amount of money you will be able to borrow, by walking you through pre-qualifying. In this process, we calculate your borrowing capacity - looking at your earning status, money available for down payment, existing debt, income, and other areas. We ask for a minimum amount of paperwork, with a short,basic process.
We award you a Pre-Qualification Letter when you qualify, which states that we are confident you can qualify for a predetermined amount of mortgage loan dollars.
With your pre-qualification letter, a number of advantages fall at your feet at the point you find the home you want to make an offer on. First of all, you have some concrete numbers in mind, as the amount you will qualify for on your mortgage.
Your pre-qualification will also make your offer look even better to the home seller, like you were bringing them a suitcase full of cash! They won't have to wonder if that they have been wasting their time if you won't be able to have the ability to qualify for a big enough mortgage loan. The seller won't be concerned that he won't be able to count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not be something for them to fret over. You have the ability to back your offer up.
We can help you pre-qualify
We will help you calculate the loan amount you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. This process leads you through your finances - your debt, income, career, down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.
One on one
You can always use the mortgage calculators here on our website to get an idea of how much mortgage you will be able to afford - but it's also valuable to talk with us. For one thing, you'll need a Pre-Qualification Letter! For another thing, we could locate a different mortgage choice that better fits your needs. We are eager to meet with you: call us at (727) 743-1620.
Have questions about pre-qualifying? Call us at (727) 743-1620. My FL Home Loans, Inc. answers pre-qualifying questions every day.