Why it's Important to Pre-Qualify

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It is helpful to consult with your mortgage professional early — even before you have begun narrowing down neighborhoods. What for? What can we do for you if you have not made an offer, and do not yet know the amount you want to borrow?


When we pre-qualify you, we help you figure out how much of a monthly mortgage payment you can fit in your budget, and the size of loan you can qualify for. The process takes you through your current financial situation - your debt, income, career, and cash available for down payment, among other things. It's a short, thorough process with minimal risks for papercuts.

Once you qualify, we give you a Pre-Qualification Letter (your real estate agent may call it a "pre-qual"), that says that we are partnering with you to find the ideal loan program to fit your financial needs and that we are confident you'll qualify for a loan up to a specific amount.

Power in the Pre-Qual

Some beneifits open to you after you have found your next house, and have achieved pre-qualification power. First, you have some concrete numbers in mind, as the amount you will be able to borrow. Even more important to the seller of the home, your pre-qualification status gives them confidence - as if you'd entered their house with a big box of cash to make the offer! They need not be concerned they're wasting their time if you won't be able to have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he won't be able to trust you to qualify for your mortgage in the amount you will need.Your qualifying for your needed loan amount will not cause them concern. They have a virtual guarantee that they can trust your ability to back up your offer.

We help with your pre-qualification

When we pre-qualify you, we help you figure out the amount you can afford in monthly mortgage payments you can fit in your budget, and the loan amount you can qualify for. The process outlines your current financial situation - your debt, income, job, down payment money, among other things. We require a minimum amount of paperwork, and avoid a lengthy process.

Face to Face

You can certainly use the mortgage calculators on our website to calculate the size mortgage you'll be able to afford - but it's also essential to talk with one of our mortgage professionals. That way, we can help you get your pre-qualification letter. Then, we'll make sure we have the ideal mortgage program for your situation. Let us get you started: Contact 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.

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