Getting pre-qualified before you start looking for your new home has many advantages including:

1. You’ll be in a better position for negotiation. Currently, most sellers will not look at a buyer’s offer unless he/she has been pre-qualified by a lender.

2. The process will determine the price range you can afford.

3. It will help you to understand the types of loan(s) you qualify for and which you prefer before house shopping. This can save a great deal of time once you open escrow on your new purchase, which can be very important if you have agreed to a short escrow period.

4. This will help you to determine what your monthly payment will be. You may qualify for more payment than you really feel comfortable paying. So, use this process not only to determine your qualification but what you want your target monthly payment to be.

5. You can determine the cash you should expect to need for your down payment and closing costs. This is very important since you may need to determine if a seller’s credit toward closing costs will be necessary as part of the contract so that you can afford the purchase. You will need to ask for any seller’s credit at the time of offer and acceptance.

When you request a pre-qualification from us we will need an accurate estimate of your gross income, monthly debt payments, your housing & employment history, liquid assets, any gift funds to be used and credit history.

Contact us now to get started with an experienced mortgage professional.