Why Pre-Qualify?

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Even if you've not so much as narrowed down homes to view yet, it can be advantageous to visit with your mortgage professional early. What for? If you do not know yet how much home you need to qualify for, how can we help?

We Can Help You Pre-Qualify

We can help you see how much of a mortgage loan you can afford, and how much money you may be able to borrow, by walking you through the pre-qualification process. We will accomplish this by reviewing your income and debts, your employment and residence situations, your funds available for a down payment, required reserves, and some other things. We will ask for a minimum amount of paperwork, and avoid a lengthy process.

We will award you a Pre-Qualification Letter if you qualify, that states that we are confident you'll qualify for up to a specific amount of mortgage dollars.

Pre-Qualification Power

Once you find the house that meets your needs, and you decide to put together an offer, being pre-qualified for a mortgage loan will do several things. First, it lets you know how much you're able to offer. Your pre-qualification will also make your offer look even better to the home seller, like you were bringing them a suitcase full of cash! They won't need to worry that that they are wasting their time if you won't be able to have the ability to qualify for a big enough mortgage. The seller won't be concerned that he won't be able to count on you to qualify for your mortgage in the amount you'll need.Your qualifying for the necessary mortgage loan amount will not cause them concern. You have the capability to back your offer up.

We will help you pre-qualify

We can help you determine the loan amount you can qualify for and the monthly payment amount you can afford by helping you pre-qualify. The process leads you through your current financial situation - your debt, income, job, down payment money, among other things. It is a quick, thorough process with minimal risks for papercuts.

Face to Face

You can certainly use the calculators available on our site to get an idea of how much mortgage you can afford - but it's also essential to meet with us. That way, we'll be able to help you get your pre-qualification letter. Next, we can review your mortgage loan choices and be sure you have found the best one. We are eager to hear from you: contact us at 952 417 8481.

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

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