The Importance of Pre-Qualification
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It can be helpful to see a mortgage professional early, even if you haven't decided what type of home to search for. What for? If you don't yet know how much house you need to qualify for, how can we help?
We will help you calculate how much of a mortgage you can afford, and how much money you can borrow, by taking you through the pre-qualification process. We will accomplish this by analyzing your debts and income, your work and housing situations, the funds available for down payment, required reserves, and other financial considerations. It's short and to the point; We take pride in keeping the paperwork to a minimum.
After you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that states that we are helping you to find the best mortgage loan to fit your financial needs and that we're confident you will qualify for a mortgage up to a certain amount.
After you locate the house that catches your eye, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. First, you have some definite numbers in mind, as the amount you will be able to borrow.
More important to the home seller, your being pre-qualified is like your having entered their house with a suitcase full of money ready to make the deal! They won't need to be concerned that they're wasting their time if you will not be able to qualify for a high enough mortgage. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for the necessary mortgage loan amount won't cause them concern. You have the ability to back your offer up.
We help with your pre-qualification
Our mortgage professionals will help you calculate the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. The process leads you through your current financial situation - your debts, income, employment, cash available for down payment, among other things. It's short and to the point; and we take pride in keeping the paperwork light.
Face to Face
You can certainly use the calculators here on this website to calculate how much mortgage you'll be able to afford - but it's also important to meet with us. For one thing, you'll need a Pre-Qualification Letter! Then, we will make sure we have the ideal mortgage program for your situation. Contact us at (703) 551-4107 to get started.
Have questions about pre-qualifying? Call us at (703) 551-4107. Churchill Mortgage Company answers pre-qualifying questions every day.