Why Pre-Qualification is Important

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Even if you've not so much as picked out houses to visit yet, it's important to see your mortgage professional first. Why? Perhaps it is difficult to understand the way we could help even before you begin to calculate your offer.

We Can Help You Pre-Qualify

We can help you calculate how much of a loan you can qualify for and the monthly mortgage payment amount you are able to afford by helping you pre-qualify. The process leads you through your finances - your debt, income, job, and down payment money, among other things. It's quick and basic; We keep the paperwork to a minimum.

After you qualify, we give you what's called a Pre-Qualification Letter (your real estate agent might refer to it as a "pre-qual"), that says that we are helping you to find the ideal loan program to fit your situation and that we're confident you will qualify for a loan up to a certain amount.

Pre-Qual Power

After you find the house that is ideal for you, and you decide to make an offer, being pre-qualified for a mortgage will do several things. The first is that you'll be sure the amount you will be able to afford when determining your offer. Even more important to the seller of the house, your pre-qualification status gives them confidence - as if you'd arrived at their house with a suitcase of cash to make the offer! They will not have to worry that they are wasting their time if you don't have the ability to qualify for a high enough mortgage loan. The seller of the home won't be concerned that he can't count on you to qualify for your mortgage in the amount you will need.Your qualifying for the necessary mortgage loan amount will not be something for them to fret over. You have the capability to back up your offer.

We will help you with your pre-qualification

We will help determine how much of a mortgage you can afford, and the amount of money you can borrow, by taking you through pre-qualifying. During this process, we calculate your borrowing power - analyzing your job, money available for down payment, existing debt, income, and other circumstances. It's short and to the point; and we take pride in keeping the paperwork light.

One-on-One

While you are encouraged to try our tools to calculate mortgage variables on our site, it will be essential to sit down and talk with one of our mortgage professional team members. That way, we'll help you get your pre-qualification letter. For another thing, we could find a different mortgage option that better fits your needs. Let us help you get started: Contact us at (440) 234-9660.

Have questions about pre-qualifying? Call us at (440) 234-9660. Northeast Bancorp of America, Inc. answers pre-qualifying questions every day.

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