Why Should I Get Pre-Qualified for a Home Loan?
Even if you’ve not picked out homes to visit yet, it’s important to contact your mortgage pro first. Why? How can we help you if you have not negotiated an amount, and don’t yet know how much you want to borrow?
Our mortgage professionals can help you find out how much of a loan you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. This process walks you through your finances – your debt, income, job, and down payment money, among other things. It’s a quick, thorough process with minimal risks for papercuts.
After you qualify, we present to you a Pre-Qualification Letter (your real estate agent might refer to it as a “pre-qual”), which states that we are helping you to find a loan program to meet your financial needs and that we’re confident you will qualify for a mortgage loan for up to a specific amount.
Several benefits open to you once you’ve found your next house, and have achieved pre-qualification. First, you have some general numbers in mind, as the total, you will qualify for with your mortgage. Your pre-qualification also will make your offer more attractive to the home seller, like you were bringing them a bag full of cash! They need not worry that they have been wasting their time if you will not be able to qualify for a high enough mortgage. The seller won’t wonder if he can count on you to qualify for your loan. Your qualifying for your needed loan amount will not be something for them to be concerned about. You have the ability to back up your offer.
We will help you with your pre-qualification
Our mortgage professionals will help you determine the loan amount you can qualify for and the mortgage payment amount you are able to afford by helping you pre-qualify. The process leads you through your finances – your debt-to-income ratios, job, down payment money, among other things. It’s a quick, thorough process with minimal risks for papercuts.
One on one
You can certainly use the calculators available on our site to calculate the size mortgage you will be able to afford – but it’s also important to talk with us. For one thing, you’ll need a Pre-Qualification Letter! Next, we can study your mortgage loan options and be sure you are in the right one.
Looking for more information about home loans in Boise Idaho then reach out to us or visit our home page