Why it's Important to Pre-Qualify

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Even if you haven't so much as picked out homes to view yet, it can be valuable to visit with your mortgage pro first. What for? What can we do for you if you have not negotiated a price, and do not yet know how much you want to borrow?


When we pre-qualify you, we help you decide how much of a monthly payment you can fit in your budget, and the size of loan you can qualify for. This process walks you through your financial situation - your debt, income, career, and down payment money, among other things. It's a quick, thorough process with minimal risks for papercuts.

Once you are determined to be eligible, we prove our confidence in your capacity to qualify for a loan by giving you a Pre-Qualification Letter (also known as a "pre-qual").

Power in the Pre-Qual

After you find the house that is ideal for you, and you decide to make an offer, being pre-qualified for a mortgage loan will do a number of things. The first is that you can know what you can afford when determining your offer. Even more important to the seller of the home, your pre-qualification status gives them confidence - as if you had arrived at their home with a suitcase of cash to back up the offer! They won't need to be concerned they're wasting their time if you do not be able to qualify for a big enough mortgage. The seller of the home won't wonder if he can count on you to qualify for your loan.Your qualifying for your needed mortgage loan amount will not cause them concern. You have the influence of a buyer ready to make the purchase on the spot!

We will help you pre-qualify

We will help you find out how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by getting you pre-qualified. In the process, we calculate your ability to borrow - looking at your employment, available money for down payment, existing debt, income, and other circumstances. We require a minimum amount of paperwork, with a quick process.

Face to Face

While you are able to try our tools to calculate mortgage variables on our website, it's a good idea to meet with one of our mortgage professional team members. We can walk you through your pre-qualification letter. Next, we can review your mortgage program choices to be sure you have chosen the best one. Contact us at 952 417 8481 to get started.

Have questions about pre-qualifying? Call us at 952 417 8481. Alerus Mortgage answers pre-qualifying questions every day.

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