Why it's Important to Pre-Qualify

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It is helpful to bring in your mortgage loan professional as soon as possible — even before you have started researching neighborhoods. What for? How can we help you if you haven't made your offer, and don't yet know how much you need to borrow?

We Will Help You Pre-Qualify

Our mortgage professionals can help you calculate the loan amount you can qualify for and the monthly payment amount you can afford by getting you pre-qualified. We will do this by reviewing your debts and income, your work and housing circumstances, your funds available for down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, with a quick process.

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

Power in the Pre-Qual

With your pre-qualification letter, some advantages fall at your feet at the point you locate the home you want to put together an offer on. First, you have some definite numbers in mind, as the amount you can borrow. Even more important to the seller of the house, your pre-qualification letter gives them confidence - as if you had come to their house with a suitcase of cash to make the offer! They will not have to wonder if that they're wasting their time if you can't be able to qualify for a big enough mortgage. The seller won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. They have a virtual guarantee to trust your ability to back up your offer.

We will help you pre-qualify

When we pre-qualify you, we help you determine the amount you can afford in mortgage payments you can fit in your budget, and how much we of a loan you can qualify for. We achieve this by reviewing your income and debts, your work and housing situations, the funds available for down payment, required reserves, and other financial considerations. It's short and basic; and we keep the paperwork to a minimum.

One-on-One

You can certainly use the mortgage calculators here on our site to calculate the size mortgage you'll be able to afford - but it's also important to meet with one of our mortgage professionals. We can walk you through your pre-qualification letter. For another thing, we could locate a different mortgage program that fits your situation better. Let us get you started: Call us at 702-524-1376.

Have questions about pre-qualifying? Call us at 702-524-1376. North American Financial answers pre-qualifying questions every day.