Should You Talk to a Mortgage Professional Before House Hunting?

Absolutely!

Even if you haven’t decided on houses to consider yet, it’s important to talk to your mortgage professional first. Why? What can we do for you if you haven’t negotiated a price, and don’t know how much you want to borrow?

When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford and what you are comfortable with. We do this by considering your income and debts, your employment and residence situations, the available funds for down payment and required reserves, amongst other things. It’s short and to the point, and we keep the paperwork to a minimum!

When you do find that house that catches your eye and you decide to make an offer, being pre-qualified for a mortgage will help you in a couple of ways. Though the realtor will help determine a reasonable offer, the pre-qualification lets you know the maximum you can offer. The pre-qualification will also give you the confidence to know you can follow through with financing once that offer is made.

More importantly, to a home seller, your being pre-qualified is like you walked into their house with a suitcase full of cash to make the deal! They won’t have to wonder if they’re wasting their time because you’ll never qualify for a mortgage to finance the amount you’re offering for the home. You have the clout of a buyer ready to make the deal right now!

You can always use the calculators available on our site to get a general idea of how much mortgage you can afford. However it is important to talk with us as well to not only get a Pre-Qualification Letter but also to become familiar with the various programs and obtions available that suit your needs.