Why Get Pre-Qualified?

There are great advantages to knowing what your budget is and where you stand before you start the shopping process.  There are amazing homes to be found in all price levels.  Being able to pinpoint what you can comfortable afford helps narrow the field and optimized your resource to get the right home at the right price..  The first step in narrowing the field is here and in a market that is moving so quickly available listings change sometimes hourly.  Being able to make the offer in a timely manner is essential to getting the home you love the first time.  Pre-qualifying puts you ahead of the game and does the following for you!

1. Pre-qualification acts as a dry run of the loan application process. The mortgage lender will use details you provide about your credit, income, assets and debts to arrive at an estimate of how much mortgage you can afford. The whole process may take only minutes or a few hours at most, and is free.

2. While a "pre-qual" is non-binding to the lender (because the information you provide has not been verified), it does serve as a good indication to potential sellers of your general creditworthiness.

3. These days most sellers will NOT accept an offer without at least a pre-approval letter, so if you are serious about buying this is the first step towards getting you in your new home.