The importance and peace of mind behind prequalifying

1.  First and foremost, pre-qualifying for a loan gives you the comfort of understanding the loan process, how much of a down payment you may need and what type of borrowing power you have.  We insist that our lenders also provide you with an estimated monthly payment.  From experience we've learned that buyers may be informed that they qualify for "X" amount, but they are not told what their monthly payments might be.  That is unacceptable in our eyes.

1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is absolutely free.

2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.

3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.

4. The loan officer you select could have a enormous impact on both the seller, as well as their agent, in making a decision as to whether or not to accept your offer.

5. We come with a lot of experience.  We've been through the ups and downs of the market, and we know what matters.  Let us help you.