When to Speak to a Mortgage Pro
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Even if you have not narrowed down homes to visit yet, it's advantageous to contact your mortgage professional early. Why? It might be difficult to understand the way we could help even before you begin to negotiate.
We can help you determine how much of a loan you can qualify for and the mortgage payment amount you are able to afford by getting you pre-qualified. We achieve this by analyzing your debts and income, your employment and residence circumstances, your funds available for down payment, required reserves, and other financial considerations. It's a quick, thorough process with minimal risks for papercuts.
At the point you are considered eligible, we document our confidence in your ability to qualify for a mortgage loan by awarding you a Pre-Qualification Letter (also called a "pre-qual").
Armed with your pre-qualification letter, a number of advantages are yours at the point you find the house you want to put together an offer on. First, it lets you know how much you're able to offer.
Of greater importance to the seller, your pre-qualification is like your having walked into their front door with a bag full of money ready to make the deal! They need not be concerned that they have been wasting their time if you won't be able to be able to qualify for a high enough mortgage loan. The seller won't be concerned that he can't count on you to qualify for your loan.Your qualifying for the necessary loan amount won't be something for them to lose sleep over. You have the capability to back your offer up.
We can help you pre-qualify
We will help you calculate how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. During the process, we look at your ability to borrow - analyzing your employment, money available for down payment, debt, income, and other areas. It's a quick, thorough process with minimal risks for papercuts.
Face to Face
It's vital to sit down and talk with us, even though you are welcome to also utilize the helpful mortgage loan calculators on our website. That way, we'll be able to help you get your pre-qualification letter. Then, we'll make sure we have the ideal mortgage loan program for you. Let us help you get started: Call us at 952 417 8481.
Have questions about pre-qualifying? Call us at 952 417 8481. Alerus Mortgage answers pre-qualifying questions every day.