Being prepared is one of the smartest things you can do to help the home buying process run smoothly. Getting prequalified for a mortgage gives you an idea of what your loan program and the amount you could borrow might look like in advance. This can give you a big advantage at different stages of your house hunt, from helping you prepare your budget and set your expectations, to strengthening your negotiating position with the seller when you’re making an offer on a home. There are many different types of mortgage products available to fit the needs for todays Buyers. From First Time Home Buyers to Seasoned Real Estate Investors, every situation is different! Regardless of your situation, Pre-Qualifing for your upcoming purchase is a MUST!
What is pre-qualifying for a loan?
When you pre-qualify for a loan, you’re getting an amount of what you should be able to borrow. Prequalification:
- Provides an estimate of your borrowing power
- Is based on information you provide about your income, assets and a credit check
- Can often be done online
- Is offered at no cost
- Prequalification is neither a pre-approval nor a commitment to lend; you must submit additional information for review and approval
Why get pre-qualified?
Once you’ve built your budget and know how much of a monthly payment you can comfortably afford, getting prequalified allows you to estimate the loan amount and type that’s right for you. Then, when you’re searching for a home, you’ll know which homes are in your price range.
What program is right for me?
Call us. It is that simple. Let's get to know one another. There are loan programs for first time home buyers with little to no money down, down payment assistance loans, Veterans, FHA 203K Rehab loans, Jumbo loans, Non-Citizen Loans, just to name a few!