Why Pre-Qualification is Important

It is important to visit with a mortgage professional early, even before you have decided the sort of house you hope to find. What for? When you do not yet know how much house you want to qualify for, what could we do for you?

Pre-Qualify

When we pre-qualify you, we help you figure out the amount in monthly mortgage payments you can fit in your budget, and the loan amount you will qualify for. This process outlines your financial situation - your debt, income, job, and cash available for down payment, among other things. It's a quick, thorough process with minimal risks for papercuts.

We'll award you a Pre-Qualification Letter once you qualify, that states that we are confident you will qualify for a predetermined amount of mortgage loan dollars.

Power in the Pre-Qual

Several advantages open to you when you find your next house, and have achieved pre-qualification. First, it lets you know the amount that you're able to offer. Your pre-qualification will also make your offer look even better to the seller, like you were bringing them a suitcase full of cash! They won't have to worry that that they are wasting their time if you don't have the ability to qualify for a high enough mortgage. The seller of the home won't be concerned that he can't trust you to qualify for your loan.Your qualifying for your needed loan amount will not cause them concern. You have the ability to back your offer up.

We will help you with your pre-qualification

We will help determine how much of a mortgage loan you can afford, and the amount of money you will be able to borrow, by walking you through pre-qualifying. We do this by analyzing your debts and income, your work and housing circumstances, your available funds for a down payment, required reserves, and some other things. It's quick and basic; and we take pride in keeping the paperwork light.

Face to Face

It is vital to sit down and talk with us, even though you are welcome to also use the helpful mortgage calculator tools on this website. That way, we'll be able to help you get your pre-qualification letter. For another thing, we could find a different mortgage loan option that is a better fit for you. Let us get you started: Call us at 408-402-5936.

Have questions about pre-qualifying? Call us at 408-402-5936. North Star Mortgage Realty answers pre-qualifying questions every day.