The Importance of Pre-Qualification

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Even if you have not narrowed down houses to view yet, it is advantageous to contact your mortgage loan professional early. What for? It might be hard to fathom how we can help even before you begin to negotiate.

We Can Help You Pre-Qualify

We will help you determine the loan amount you can qualify for and the monthly mortgage payment amount you can afford by helping you pre-qualify. This process outlines your current financial situation - your debt, income, career, and down payment money, among other things. We will ask for a minimum amount of paperwork, with a short,basic process.

Once you qualify, will present to you what's called a Pre-Qualification Letter (your real estate agent may refer to it as a "pre-qual"), that documents the fact that we are helping you to find the right mortgage loan program to fit your financial needs and that we're confident you will qualify for a loan up to a specific amount.

Power in the Pre-Qual

Several beneifits open to you once you have found your new house, and have achieved pre-qualification power. First, it helps you know how much you are able to offer. Even more important to the seller, your pre-qualification gives them certainty - as if you had come into their house with a suitcase of cash to make the offer! They need not worry that that they're wasting their time if you don't have the ability to qualify for a big enough mortgage loan. The seller won't worry if he can trust you to qualify for your loan.Your qualifying for the necessary mortgage loan amount will not be something for them to be concerned about. They have a virtual guarantee to trust your ability to back up your offer.

We help with your pre-qualification

We will help you see how much of a mortgage loan you can afford, and how much money you can borrow, by taking you through the pre-qualification process. We achieve this by analyzing your debts and income, your employment and housing circumstances, your available funds for down payment, required reserves, and some other things. We require a minimum amount of paperwork, and avoid a lengthy process.

One-on-One

You can always use the calculators here on our website to get an idea of how much mortgage you will be able to afford - but it's also important to talk with one of our mortgage professionals. For one thing, you'll want a Pre-Qualification Letter! Next, we can consider your loan choices and be sure you have chosen the best one. We're waiting to hear from you: contact us at 7202537070.

Have questions about pre-qualifying? Call us at 7202537070. Front Range Lending answers pre-qualifying questions every day.