Why Pre-Qualification is Important

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It's important to see a mortgage professional first, even before you've determined the kind of home you hope to find. What for? It might be difficult to fathom the way we could help even before you begin to negotiate.

Pre-Qualify

When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can fit in your budget, and how much we of a loan you will qualify for. This process walks you through your finances - your debts, income, job, and down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.

When you qualify, we present to you a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), which states that we are helping you to find the right mortgage to fit your situation and that we are confident you will qualify for a mortgage up to a certain amount.

Power in the Pre-Qual

Various advantages open to you after you have found your next house, and have achieved pre-qualification. First of all, you have some concrete numbers in mind, as the amount you will be able to borrow. Of greater importance to the current home owner, your pre-qualification is like your having entered their house with a suitcase full of money ready to purchase the home! They will not have to be concerned they're wasting their time if you do not have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he won't be able to trust you to qualify for your loan.Your qualifying for the necessary loan amount will not cause them concern. They have a virtual guarantee that they can trust your buying power.

We help with your pre-qualification

We can help you see how much of a mortgage loan you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. We will do this by analyzing your income and debts, your work and housing situations, your funds available for a down payment, required reserves, and some other things. It is a short, thorough process with minimal risks for papercuts.

One-on-One

It is vital to sit down and meet with us, even though you are free to also utilize the helpful mortgage loan calculators on our website. We can begin working on your pre-qualification letter. For another thing, we might find a different mortgage option that is a better fit for you. We're waiting to hear from you: contact us at -.

Have questions about pre-qualifying? Call us at -. Sunrise Mortgage Group answers pre-qualifying questions every day.