The Importance of Pre-Qualification

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It is helpful to consult your mortgage professional early — even before you have started to research neighborhoods. Why? When you do not know yet how much home you need to qualify for, what can we do for you?

We Can Help You Pre-Qualify

When we pre-qualify you, we help you decide how much of a monthly mortgage payment you can afford, and the loan amount you will qualify for. We will do this by considering your debts and income, your employment and housing situations, your available funds for a down payment, required reserves, and other considerations. It is a quick, thorough process with minimal risks for papercuts.

At the point you are determined to be eligible, we document our confidence in your capacity to qualify for a mortgage loan by presenting you with a Pre-Qualification Letter (also called a "pre-qual").

Buying Power

Once you locate the house that catches your eye, and you want to put together an offer, being pre-qualified for a mortgage loan will do several things. The first is that you will know the amount you will be able to afford when calculating the offer. Having pre-qualification also will make your offer look even better to the home seller, like you were bringing them a bag full of cash! They need not worry that that they have been wasting their time if you do not have the ability to qualify for a high enough mortgage loan. The seller won't wonder if he can count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary loan amount won't be something for them to worry about. You have the capability to back your offer up.

We will help you with your pre-qualification

When we pre-qualify you, we help you figure out the amount you can afford in monthly payments you can fit in your budget, and the loan amount you will qualify for. We will do this by reviewing your income and debts, your work and residence circumstances, your available funds for down payment, required reserves, and some other things. It's quick and basic; and we take pride in keeping the paperwork to a minimum.

One-on-One

You can always use the calculators here on this site to get an idea of how much mortgage you will be able to afford - but it's also essential to talk with one of our mortgage professionals. We can work toward your pre-qualification letter. Then, we can make sure we have the best mortgage loan program for you. Let us help you get started: Call us at 3217777277.

Have questions about pre-qualifying? Call us at 3217777277. AmeriBest Mortgage answers pre-qualifying questions every day.